I've recently seen people giving advise to take out a HELOC as a means to pay your normal everyday expenditures including bills, and at the same time, taking your paycheck from job and applying it every month towards your mortgage payment.

That's the most important first question to answer. 

Run the numbers specific to that deal, including rehab costs, ARV (After Repair Value), and rent potential.

Latest estimate I saw was $150/sqft to build not including the land.

As a former New Yorker who was a realtor in both NY and PA (Orange Co, NY and NEPA) I learned a lot about North Eastern PA which includes the Pocono Mtns and Scranton-Wilkes Barre area.

In either case, I'd be looking at markets with a growing population (demand), a shortage of inventory (supply), and a market that has a net positive importing of jobs with wage growth.As the Fed's a poised to make some moves with interest rates later this year, the question still remains to be seen what they will do with their QE/QT policy on their balance sheet as that will affect long term 1-4 unit rates. 

Find your goals, then build a plan to get there, and finding a reliable team to help you do it is the most important part.Would love to connect if you'd like to learn about us, or get involved in our local meetup.  

Most important thing here is to not settle for just anyone because you’re having a hard time finding a tenant at the moment.  

I live in Ca, this property includes a liquor license.  

This is an important status for people to go for since it allows you to write off losses from rental activities on your other active income.