New investor "do's and don'ts"

[Noah Jones]

Hey folks, New investor here from Oregon. About to close on our first deal and I have a few questions about how to proceed. The plan is to live in it for a year while fixing it up and rent out two of the bedrooms to help finance the rehab costs (college town), then rent it out. We expect an ARV of 230K with roughly 40K in equity. Would it be unwise to use a HELOC as a down payment on one or two other properties? I am also quickly realizing how much time and energy is involved in finding good deals in this market. I don't plan to quit my 9-to-5 anytime soon so I think I'm going to have to rely on wholesalers for most of my future deals. I was hoping some of you could provide a solid list of "do's and don'ts" for a new investor looking to network with wholesalers. As wholesalers, what are your biggest gripes and frustrations with inexperienced investors? The last thing I want to do is waste anybody's time or develop a negative reputation. If I'm going to work with a wholesaler, I want to be as reliable as possible. Thanks in advance for your help.