I'd like to hear any good and bad recent experiences you have had with this lender.  

Good move, or bad?

I'm going to give a verbal warning followed up with a text message describing what was talked about so we have records if something bad happens. 

This would likely be a bad investment in your position. 

If you have a bad feeling about someone or fear they are going to steal your idea that is not a partner you want to be presenting to. 

If you were able to pull out $500,000 in existing equity out of a paid off rental and disperse those funds to acquire 2, 4-unit MFR properties and had the income to support any future CapEx and the interest payments on your HELOC ( including the extra income to paydown the loan ) would there be any " gaps " or problems I'm missing in this situation where it would be a bad enough idea to not go through with acquiring more properties through a HELOC on 1 of 5 properties you own?

.$379 Insignia 70" F30 4k Fire TV - https://www.amazon.com/All-New-Insignia-70-inch-Class-NS-70F...Not a bad TV if you are looking for a larger unit.

Then you can eliminate markets to invest either in CA or out of state to narrow your choices to do research.

Long story short, I am in a bad financial condition as of recently.

It's more numbers than which neighborhoods.Keep in mind that Realtors really can't tell you this is a good place and this is a bad place.