We would enjoy keeping vacancy rates as low as possible, providing great tenant support, and even some simple maintenance and up keep on short or long term rentals.

Further, how do I demonstrate proof of funds on a HELOC (ie, the equivalent of a pre-approval letter for a loan)?

With title insurance.The Low Baller – I will define this person by an example from my property brokering days 40 years ago.

I've been chewed out by agents for backing out deals with low(er) DDs because I did my DD and found too many issues, and I have had some try to pressure me into massive DDs which I did but fortunately did not win.

Obviously water damage has more cost to fix than the plumber, but if we are withholding deposit funds for it we need to figure out quick what we can keep to cover this.

My guess is this house has an issue with either condition or the split level aspect since $350K is a low price for a good-condition suburban duplex.

I am currently in my first year of my W2 job (post graduation), and after a year of listening to Bigger Pockets, getting my real estate license, and allocating funds, I have finally decided to dive head first into my first investment.

As an asset manager for a few voucher-funded properties, I'd be cautious about doing that at a distance. 

Transfers are easy to set up and you can even create rules on when to transfer funds. 

An investor has to buy low and sell high (that's the idea).