I sell a house that has underlying mortgage still on a land contract, which put me at risk for a due on sale trigger (understand the risks of note being called from many prior posts).2.  

However, I do know that I want to get into properties as soon as possible perhaps when I graduate so my plans right now is to save, network, find a mentor and develop my understanding of the game. 

Again, if this is a side of business you don't readily know and understand, than don't do it yet because it's best to do it later and right than wrong and pay the price. 

I understand that you are looking to live off the investment income, but if not, a better option would be rolling over that money into a self-directed IRA and invest with tax benefits.

It is also my understanding that there is less competition in MF.  

@Dan Cho - just to make sure I understand, if you put the 30% down (172.5k) from your HELOC, the seller will finance the remaining balance of 402.5k? 

I'd like to thank everyone for the advice as well as for everyone's understanding of the situation.

It's to my understanding that you have to have an end buyer that brings cash to closing. 

It's to my understanding that you have to have an end buyer that brings cash to closing.

Hi Connor, This is my understanding on this type of loan.The FHA Loan  is mainly an insurance program by the FHA (government entity) that allows low down payment on the purchase.