Im jumping in NOW!! Quick questions

[Shaniqua Dupree]

Hello all,

I am figuring out my financing right now but i have a few (5) properties in mind but two that i want to get ASAP. 

Property 1: $100k purchase, $20k rehab (family members works as contractors thats why this is low) ARV: $220k, $20k other fees. Rancher/3bd/1ba/big yard/great area

Property 2: $43,500 purchase $50k rehab, ARV: $165k, $15k other fees. ***MOLD*** i expect a full remediation ($30k is in the rehab cost) SFH/3bd/2ba/big yard/decent area

My Real Estate Background: Im closing on my first house December 29, 2015. Purchasing it for $165,000. I dont have equity in the home itself but equity in the value in my neighborhood. If that makes sense. My home appraised for 165k. After renovations it will appraise for 230k- 260k (prayerfully). Minor diy work with little contracting like adding a wall to make a 4th room (old owners took the wall down a long time ago), restaining cabinets, backsplash, flooring, paint walls, tile, crown molding, add tub to half bath by knocking out closet, fixing up the master bedroom en suite, etc. Plus doing the basic in the basement. 

Now getting to the financial question

How long do i have to wait to get a HELOC?

I am considering using a hard money lender will they take two deals at a time?

I want to use money from heloc to do Delayed Financing to get property number 2 what do you think? Would you do it?

Could i use the heloc as 20% for the downpayment to property 1?

How many conventional mortgages can i have at one time? Investment property!

Is it likely qualify for more investment properties with a 630 credit score?

Im going to be renting out some space in my VA approved home getting about $1,000 will that help at all with getting more mortgages for properties?

 Thanks for everything BP family.