Yes, the timeframe between getting the new property and selling the old property is high interest and 3 different payments (old property mortgage, HELOC payment, new property mortgage).

The land is mostly forested with a year-round stream running through it - it's beautiful and private and was largely unaffected by the recent floods as it sits high up and consists of large hills.

I would highly encourage you to think about your family first. 

I own some small multifamilies in Concord and High Point, NC.

I am currently a senior in high school nearing graduation and have a growing passion for learning this industry.

When you are "manager" of a property, the homeowner has effectively transferred all responsibility of risk management to you; that is a big part of what they are compensating you for.  

I look for low crime rates, good schools, high rent to value ratios sometimes as high as the 3% rule. 

(I also would like a loan that doesn’t require a high down payment). 

These are activities where if they are not done, the negatively effect the p&l.

As a general rule of thumb, no one ever lends for less than the rate of a high yield savings account.