Their existing fixed mortgage will (afaik) invariably have a lower interest rate than they could get by replacing it with a first position HELOC (except for promotional/temporary lower interest).I'm always against promotional low interest rates presented by lenders (for long-term loans), as if they're going to be on the losing end of such a "give-away product"!

This is for mid-range quality and minimal assembly items- what you save in purchase price you will lose in replacement and assembly costs!

At least you didn’t lose money on a bad situation. $1,000 today and a written promise to pay what you expected in a month or two isn’t horrible. 

That said, unless the amount you end up losing is substantial it likely won't be worth going after with the cost of litigation and also the effort to collect. 

If I can't do this the house loses money big time like 800-1200 a month.

Have you ever heard of a Landlord being sued by a Tenant and losing property?

. $950.00 extra is not worth the headache of losing people on the ground there...

Have you ever heard of a Landlord being sued by a Tenant and losing property?

With the way rent rates are falling as of late, this has never been more true than right now.Selling your current home and losing that amazing rate would be a huge disservice to your progress. 

You may have neighbors willing to help now and then, but it's unlikely you'll find a neighbor willing to do this all the time, every time, for years.In my experience, most landlords lose far more money through self-management than they would by hiring a professional, even when they live close to the rental.