My first post on BP, I've been a lurker for a long time.I sold my e-commerce company last year and have been doing some real-estate investing, I've bought and fixed up several personal homes over the years and have always wanted to get into real-estate investing.I live in CA, and I bought my first investment property in Temple Texas at the beginning of the year. 

If you are thinking of creating a secondary market of some sort, you'd be the third person in the last 5 years that I've talked to and answered this exact question. 

The plan is to come in and improve the NOI over the next 12-24 months then implement a strategic cash out refinance and move to long term permanent agency debt.

Investment Info:
Mixed-use building

Purchase price: $405,000

Cash invested: $20,250

Mixed use investment. 2 residential units with 1 storefront

What made you interested in investing in this type...

I have begun reading David Greene's Long-Term Real Estate Investing to ensure I do this properly.What types of data should I be looking at before choosing a market for mid-term rentals?

This could mean that he is a trend setter but he does not have the deals to back that up and has not been investing long.  

Historically, residential US mortgage rates are near their long term averages.

You can sign up for these on a great website called Meetup.Financial Preparation:Evaluate Your Finances: Understand your current financial situation, including savings, credit score, and any potential sources of funding.Create a Budget: Establish a budget for your first investment.

I’m open to both, short or long-term, in Austin or the surrounding areas (mostly considering San Marcos).

HELOC are great for short term cash needs, but not good for long term cash needs.