I would have started learning about investing in RE in college rather than gambling on stocks while taking notes.If I have the knowledge and drive back then I might have skipped a party to buy a house or two. 

I need some Lease opinions from established investors.

NOTE that you are gambling that the Interest Rate will AVERAGE 6% for the HELOC.

It wasn't until I was established with a network of people in the industry that I started finding off market deals and having them brought to me. 

They will primarily be looking at the deal and want to see the DSCR debt coverage service ratio, at 1.2-1.4% or that the unit leases for 120% - 140% more then the PITI. they will only look at you & your income and credit score secondarily.I would contact the ones you don't have a relationship with 1st, and do your test runs on them, then go to your established relationships. 

I am also looking for a hard money lender to establish a relationship with in the Charlotte area.

In my actual business plan, I am going to go with a 100% rule until I have enough money established to deal with any issues that may arise.

They call it all kinds of things, but really, it's finding deals for well-established real estate flippers and passing them on.

If you plan to do more BRRR's in the future to reach a certain goal, having an established HELOC that you can use as a credit line as @Christian Manhard was describing will continue to be beneficial.

Now my question is, should I establish a corporation entity for my rental in order to claim the business as additional income?