I'm looking into creating a secular sober living home here in Austin and this looks like great info to have.

I asked the customer rep what protects me if a tenant calls and says they moved but actually are on my dime; and they said oh there is no protection. 

As long as it's utilized correctly, under leveraged, and viable from a financially defensive position, you can create tremendous growth - faster than you otherwise would have. 

I would stay away from the lower mainland for the next few years unless you truly find a deal (or create your own deal by writing letters to home owners and see if anyone is willing to sell at a discount). 

My goal is to create generational wealth by investing and learning as much as possible to pay it forward.

Quickly learned its completely 2 different areas and I want to be focused on investing, my goal is to get started in buy and hold rental properties to create passive income and financial freedom down the line.

You can structure it to where the tenant is responsible for all the repairs but be careful, if there is a major repair right after they move in they may think that you sold them a lemon of a property with pre-existing conditions that were kept secret and that could create big problems for you.

Option B seems fine, you know the area, you know it is going to create cash flow, it will create equity, you can do BRRR anyway, so what is the hesitation.

A HELOC is created on a piece of property that you currently own.

MellanaThe simplest thing would be a self-created LLC.