I’m just getting things started and want to get into ‘buy and hold’ properties to bring in some additional cash flow.My wife and I have a decent amount of funds set aside, but I was wondering if it makes sense to open a HELOC on our primary residence and utilize some of those funds as well for a down payment.

Taxes will kill you and you'll lose a lot of capital.Make sure you know the analysis very well and understand exactly what costs you'lll have with rentals.

A few tips that may be helpful to you here on the BP website:You can set up keyword alerts so anytime someone posts about Brevard County or any of the other markets you're evaluating, you'll be notified.

The pendulum is in the exact opposite phase right now, for everything that didn't need to be verified at all in 2006, now it needs to be verified 3 different ways (80% of the paperwork required you actually didn't even see or provide because it was on the back end, a typical printed loan file is currently about 4 inches thick, compliance costs to originate a FNMA mortgage are about $4000 to $8000 depending on who you ask).

So glad you've rediscovered Bigger Pockets early in your real estate investing journey...your willingness to dive in and learn will really pay off in the long run.If you haven't already, be sure to subscribe to the podcast - after three years of investing it's still a huge source of inspiration and education for me.A few tips that may be helpful to you here on the BP website:You can set up keyword alerts so anytime someone posts about any of the other markets you're evaluating, you'll be notified.

Not answering phone or questions, setting almost impossible deadlines for inspections.

A few tips that may be helpful to you here on the BP website:You can set up keyword alerts so anytime someone posts about Tampa or any of the other markets you're evaluating, you'll be notified.

@Heath Ryans and when you inspection contingency what exactly would allow me to back out in the scenario

Otherwise you are setting yourself up to get taken advantage of.

We set up the background and credit checks for them to go in an provide there SSN directly with that 3rd party then the report comes to me.