Beyond immediate safety concerns, the long-term financial implications, including taxes, are a pressing issue for those impacted by the disaster.

Specifically, some of the deals I'm considering come from established turnkey companies (very reputable in these forums) that have been around for a long time and they claim very long tenancy terms. 

I've been buying SFH's out of state all cash as long term hold rentals.  

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

Most Heloc rates right now are around 7.75% to 10% so if you look at your blended rate between your fist and Heloc you would be better off doing a cash out refinance.A lot of people forget or simply do not know that if you do a cash out refinance the rate does go up but in 12 to 24 months if you do a "rate and term" refinance you can get it back down fairly close to where it was at prior.

If anything, at least wait a year so you don't pay short-term capital gains on the sale of the property.I need to find some more deals like that here in Chicago...where in Houston was this property?

Are you looking for a long term rental? 

A HELOC is a short term debt instrument.

Sara, Just very slow this year in long and mid term.

But I would suggest exploring all options to make sure you are getting the best rate and terms.