With respect to paying $44k off on your HELOC, I personally think that is totally fine and a great start. 

What if the person staying at your place signed a contract but their 1st payment check bounced.

If a person has to ask, at all, I STRONGLY advise to use a PM service for tenant placement. 

We actually just had several go in on Livingston ave on the west side where I'd not normally think would be desirable, but they look great and really brought the block up.So I'm a huge fan personally from seeing them go up in my own area.  

There is a big difference in how those are handled  HAHA I just saw a post and commented where the person wanted to ask if they should overpay for a home because they can get is seller financing.

If it was me personally, I would not.

I personally invest in the North Dallas area (Prosper/Celina) where there is lots of growth in homes with nice lots.

I have personally owned investment property (both long-term and short-term rentals) along the lakeshore.

The lower barrier to entry would be excellent for my personally smaller net worth.

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents.