You didn’t mention the property or deal specifics, but for many deals in the recent years, there have been amazing and unusual gains due to multiple unnatural circumstances.

Now, there are unusual circumstances in which using a HELOC, or any personal loan, to pay down mortgage principal can be financially beneficial.

(yes, each option has volumes of disclaimers, circumstances and variables...at a high level, conceptually and then we can go deeper as needed.) 

If they’re late a third time, you have a strong case for eviction for habitual non-payment—without risking the tenant showing up at the 11th hour with the money.For your specific circumstances, with only a partial month behind, I would guess there is a decent chance they can come even on rent and it would be a waste of your time.

Unless you have unusual circumstances such as a month of DIY repairs on one of the houses, your wife would need to find more real estate work for herself. 

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.

My former journalist self enjoys digging into Colorado laws and counseling my clients on where they can do short-term rentals and under what circumstances.

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.To negotiate the deal, I started by understanding the seller’s priorities.

Wrong message.Yet, everyone is convinced that a certain circumstance —foreclosures, tax liens, probate cases— implies “motivation”.Circumstance doesn’t imply motivation!

Just a point of fact Class action suits are a pipe dream at this level in almost all circumstances. there has to be money to collect.