The primary drawback of a HELOC is a variable interest rate, which today could be double a fixed mortgage, as much as 10%.The best choice really comes down to a personal decision for what the plans are for the money, and how long the funds will be needed. 

Many of the hurdles you experience in real estate (and life) will be self-imposed and are much easier removed that you may think.

I would advise the complaining party that there is/was no evidence of smoking in the adjoining apartment she referenced and you have no choice but to consider the matter closed.

Might even make it easier since you can negotiate all the terms.

The goal is to establish a relationship that you can leverage for years to come.You should inquire about rates, terms, and requirements when contacting a potential lender.You can use any lender licensed to do business in Indiana, but some banks only lend in certain areas by their own choice.

You should do it virtually in the states it's way easier and you have waaayyyyyy more opportunities. 

I know this is not "your" decision, but if your wife shares your interest in real estate, I would encourage her to consider her life choice like a real estate deal. 

I must add the following:I notice that flip funding is a little easier to obtain.

@Simon W. wins the best advice award; If you have enough in your budget and enough supporting assets to hire an actual seasoned real estate controller, do itYour question is almost like your trying get your head around as if there is an owner with 2 choices: either hire employees or sub it out to a vendor.

If I do it wont be for long, and if I don't then I made the right choice anyway.