Anything I’m missing here??

What worked well,  what professionals helped you,  what were pitfalls,  what did you miss, what would you do differently,  etc.  

Am I missing something?

Don't just trust what the current owner is telling you, you could be missing hundreds or thousand of dollars of value.

Those who started waiting in 2015 missed out on 50% appreciation and 30% rent growth. 

On a $200k house at 4% interest, you'd be missing out on an 8k deduction, which would likely outweigh the cost of the higher interest rate associated with a rental property. 

My broker said that the risk with the heloc is 1) interest rate isn't fixed, and that can be costly 2) I could miss out on locking in an extremely low interest rate. 

One piece that is seems you might be missing is that when you use an FHA loan, you will be required to pay mortgage insurance, which is not cheap- on a $120k mortgage, it would be about $100 per month.

I made the mistake of paying off a property for increased cash flow, then missed a lot of opportunity to grow. 

Inspection and appraisal will be right around 1k.Anything I am missing?