If you provide the lead based paint disclosure and pamphlet then you've done all you need to inform the tenant of possible risks associated with the old house having lead.

Maybe that property will go to foreclosure and be available in a year or so when I'm more seasoned ;) I had somewhat of an "Ah ha" moment after realizing that I can possibly pursue two paths that are not mutually exclusive for the use of the capital I want to invest:   conventional loans for buy and hold investing, and at the same time utilize hard money lending to rehab distressed properties. 

I would like to buy a multifamily in the future, to house hack possibly, as soon as I fulfill my primary residence clause in my mortgage contract.Now for the questions.What would be the wisest way to set myself up as far as collecting rents, deposits, utilities?

HELOC for now and try to get refi if lien holder accepts - possible to get it before closing?

Both were purchased with a conventional mortgage (same lender) a little over two years ago and are privately-owned (no LLC).I'd like to leverage as much of the equity as possible in order to buy a new property.

As it stands right now, I just want to stop working 70+ hours a week at a job that leaves me no free time to focus on my future marriage and possible family.  

You can buy this property under home  possible program with 5% down.

if not or if there is a small mortgage, is there the possibility of owner financing? 

Aside from that you may be stuck having to save up the money for a future purchase to keep your risks as low as possible starting out.

The extent of my real estate knowledge comes from Bigger Pockets posts and podcasts, HGTV, and checking out every real estate book in the library.My goal is to learn as much as possibly by obtaining a license and then hopefully make the plunge into buying property sometime in the next year (very excited for that day).Glad to be here and I look forward to participating more in these forums :)