How do I get into investing market with low equity

Ii am just about ready to do something but not just for the sake of it

[strum]i want to devise a 20 year plan to financial security having tried to work back from 20 yrs down to present I get stuck in the “now to five year” parts of the plan that will have a significant impact on the overall success of my goals.

My biggest problem is cash/equity (surprise surprise) i know I am limited in opportunities but that is not going to stop me just yet!
equity 35k
possible cash asset sale $20k at a scrape
I have many ideas gained from several books and forum postings, virtual kick start etc but do not know how to actuate them or even if they are viable.

I was thinking of buying a cheap run down local investment property -cash flow negative (unlikely to get a cheap +ve cash flow in our area) but moving in myself and renting out our existing property for a much higher amount than int only loan on other property.

Unsure of accounting etc on this like will the bank let us buy an investment property on int only knowing we are about to live in it and rent out our own home to help finance it?

we would hope to move back to our home in future but who knows what may happen and do I pay capital gains on family home (existing) if we rent it out and if so is it on sale price less current value or sale price less purchase price!

This excercise would increase our cashflow and expose us to capital gains quickly ( I am assuming the cheapies will appreciate faster than the upper end values in a booming area ( non seaside)

I would then like to get a cash flow + home asap with pos cash flow but may have to borrow from family ( prefer not to give them any risk) to get it started or wait for cap gains to cover deposit and costs. Can’t see a way around mort ins for some time

can anyone offer any advice on implications of renting out own home with view of moving back – it may take years before we can affort to OR if we sell in a few years whats the tax implications
wife and I both work but not on high tax bracket but i assume tax saving on large loan of exist house would be beneficial.

regards Al