The initial funds to purchase and rehab are the funds I need. 

Also, beyond the initial numbers for the loan, I would need at least a 10% down payment for the purchase price of the property.

Just trying to learn, not judge :)I keep calling until they tell me to stop calling.On the initial call, your goal should be to gather information : -seller's name, -property availability -why they want to sell.

I’ve found that people on BP are incredibly friendly and willing to help.Besides surrounding yourself with the right people, the two initial and essential members of your professional team will be a lender and a realtor.

My plan initially would be to live in one of the units while managing the other 3 vacation rental units.

What is your initial analysis tell you about acquisition costs, daily/rental rates, occupancy rates, and (in the case of student housing) how most other student rentals are operated (by the room, 9 or 12 months out of the year, with or without utilities included)? 

I am going to leave the remaining 20% on the HELOC as the "down payment" just as if I would have purchased the property initially through a bank.  

Justin's first showing with me was on this small single family rental, and after just a few weeks, we were fighting off an already accepted primary offer and an initially rejected offer on our end.

The property was listed initially at 109,000 and over the course of (3) months it dropped to 90,000.

I initially was looking at studio condos in Boston, however my realtor advised that this Worcester property would be a much better investment.