Borrowing from the equity must be done wisely or you will end up with negative cash flow and at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

I vividly remember the countless hours spent driving to and from remote locations in rural Manitoba, alternating between early BP podcasts and Jim Rohn recordings.Over the next two years, I adopted an extremely frugal lifestyle, enabling me to achieve a 75% savings rate, sold my custom truck for a used Toyota, traded my new home in the burbs for a duplex (house-hack) in a challenging neighbourhood of Winnipeg where attempted break-ins were commonplace.

Assume a 10% (pulled out of the air number) interest rate on the heloc.

He would be safer in a savings account at that rate (I know what you're thinking... appreciation, though).

FOLLOW THE K.I.S.S method plan (keep it simple and stupid).Find and hire a real estate agent that understands multiple investment strategiesGet pre-approved - see what options you havebased on your pre approved price - identify an area you want to invest in that you can affordLeverage the agent to : bring you properties, assist in pulling comparables (you should know your comparables of the area you are looking in, this is for a second opinion) review and confirm your estimated rental income, assist you with acquiring the property, and have a list of resources you could use; contractors etc.Looks at properties and make offers that work for YOU.Also,Do not pull your IRA money out, leave it there and let it grow - leverage this to meet your lenders reserve requirements.Buy Multi family to holdBuy single family to fix and flip and produce more income to buy more multi families.

They also claim that their property management fee is 10%, which is true as long as the unit is occupied, but if you factor in the first month rent payment for placing a tenant and a 5% vacancy rate (about once every two years) then the property management fee is closer to 15%. 

I might start by calling  my insurance agent and asking how this will affect my culpability, not to mention rates.

Nobody knows lead conversion rates, except maybe the company who is converting them. 

They meet every month and it's great.

Since you are also from NJ, do you recommend any local meet-up groups that i should attend?