When you do that, you can get better pricing and leaves less room for error.The best advice is to push forward as quick as possible, fail forward, and always continue to introspect on what you would do differently and then ACTUALLY go back and implement that change (easier to say than do).

And don't expect the compliant tenants that complained to stay after you minimized their concern and did not address it.

Last question, how significantly would the APR improve if we leave 30% in vs 25% or 20% on a HELO? 

The problem (as you have cited) is trying to understand what you need (you don't know what you don't know), where to get it, qualifying its source(s), and the validity and usefulness of all that.Pardon me if I've gone into this too much, but I meet many people with the same concerns that you are voicing and this is offered, as much as possible in direct response to your post.Please feel free to contact me if you have any comments or questions. 

It could certainly be a concern - but depends on a lot of factors - are you looking multi or SFR? 

Unit 3 - mid-term rental (this would be best for the most private unit as most mid-term renters are more concerned with privacy and creature comforts than amenities)4.

There are a number of strategies that could be taken with the property that would meet my goals so I wanted to leave it open ended so as to not discourage people from chiming in with their thoughts and ideas.  

I just head up and tell the dock guys and I leave with 10 or so.Sometimes guests take them with them as they are pretty cool and I just have more sitting to put out.

That means, when they are damaged it doesn't eat up the whole security deposit leaving more money to cover other damages better protecting me. 3.

Any of these will leave you in a much better position for success, and provide a greater income while you learn.