You might also expect that everything will cost double (again, just when you're starting out) so you have a buffer.You didn't mention a strategy, such as BRRR, buy and hold, or whatever it may be, so I'll just repeat my standard advice here: If you're just starting out you might be best off working for a property management company to learn the basics, which I'll call the "learn and earn" option.

we pay it down as fast as we can, and pay only the min balance requiredVery long story short, we repeated this 3 more times using the HELOC to buy a Flip, mix used 5 unit buy hold, and a duplex.We just sold the boston condo a 100% appreciation this wk after 15yr.

I personally attend the Haymarket one more frequently and love the crowd.

The plan is to rent the unit out and move to another home, maybe repeat the process.

hi brandon. here is what you do. you need to build your credit as much as you can. first thing you want to do is take $1000 of that money you have and go to a bank near you, any bank. put it in an account. a week or so later, go back to that bank and ask to take out a secured loan for $1000. secure it with that account. they are NOT going to deny you. then, take that $1000 that you just borrowed and head to another bank and make an account with that $1000. a week or so later, go back to bank #2 and take out another secured loan for $1000, securing it with the $1000 account you just opened. repeat the process again and again until you have to pay back the original $1000. when you consistantly pay back all of those $1000 loans, you will have established your credit, using only $1000 of your own money, and you will have multiple banks that would be willing to loan you money in the future because you now have credit with them . in the mean time, look around for real estate deals with the rest of your money, they are out there and you can find them with the money that you have. good luck to you

If so, then you should prepare for possibly frequent trips.In our case, we are in DFW and open to investing across the metroplex;  that means up to 60 miles or so and an hour drive to get from where we live to the other side of the area. 

make sure they are a real business.. try to do business with a local lender who knows your market inside out... they will do a few things for you.1. establish long term relationship  HML from an owners side is about keeping great clients happy and repeat business.. so good borrower is just as important2. they know the area as well if not better than you will.. they will help keep you out of trouble or help guide you to the better deals as you run them by them.3. its always nice to walk in and talk with them in person...

The agent will have to check with their broker but, since you're a repeat customer with more deals likely to come their way, they'd be crazy not to help you out.

So I would be hesitant about tying up the owner's property with a contract if you don't have a buyer lined up in advance.Subject-To deals are very risky and are not for the faint of heart (or newbie investors) - banks are more frequently using the due on sale clause these days - meaning if they find out the owner conveyed title, they will call the entire mortgage due immediately.

House hacking (buying and living in the unit while making repairs/upgrades, rinse and repeat) may be a good option as it can be hard to find properties that cashflow in this area but making upgrades to distressed properties can build you equity right away.