Please let me know if it’s in your possibilities to have a quick chat to help this newbie in accelerating the learning curve.

If you flip that $50K turns into $20K real quick and that doesn't get you anywhere.Start with the one and refi. 

Quick search on the forums will indicate that all 4 areas you've mentioned have solid activity (buy and sell). 

This becomes a short term road block for those who have added value very quickly or purchased way under market value.  

I’d just continue saving up and/or pay off your house quick and go from there.

I've learned SOOOO much from those podcasts and the books they've recommended; like Brandon's Book on Rental Property Investing, Rich Dad Poor Dad, E-Myth, and one book I stumbled into at Barnes & Noble called Flip: How to Find, Fix, and Sell Houses for Profit.

My non investor friends are like wow that house sold quick!..

I am afraid the 40k profit gets eaten away quickly w realtor fees and taxes.

I am not seeing how many units are in this asset which would help.I would not personally want to be buying an asset that doesn't at a minimum kick off $100/door/month in net income.With only 2-400 in net income per month you are 1 bad tenant, 1 leaky faucet, etc. away from a loss.If you could see a very quick turn around on rent---IE: all tenants are month to month, and we can raise rents $50/unit in 30 days that might keep my interest long enough to dive deeper.Cash Flow is more important than the Cap Rate on this deal.

RE HELOCs, there's a ton of info on the internet about how people use these to pay down debt quickly.