I trust that you like it given that you say that you have one.

It's vitally important to know who you are working with, and have the history of the players involved.

People that have "amazing deals" outnumber "people that actually have money to execute on them" by a ratio of 10:1 or 15:1.

I have about $62k in available equity I can pull out.

What specific questions do you have?

You should vet the company to ensure they have the resources to pay the rent.You ALWAYS do background checks on the people living in your property because if you let in an axe murderer and they harm someone, you are likely to get sued.Whether or not you charge an application fee is up to you.  

I have often seen many people love the idea of building, but once they figure out the cost, those ideas change.For reference, here in Chicago, you can expect new builds to be between $200-$275/SF depending on MANY factors...that's just a very rough ballpark!

Those investors have largely gone elsewhere, and the ones who are joining BiggerPockets are much more responsible and realistic in their viewpoints. 

I have a long time friend in NJ who needs a HELOC on their home.

Does anyone have a company they recommend for HELOCs?