TIAIf you have an electronic record (bank statement, credit card, accounting software, etc) of the transaction the IRS doesn't require you to keep receipts unless it's a cash (took real paper money out of your pocket) transaction for $75 or more.

@Andrew Caton if money isn't an issue you should have no problem getting approved by a bank, it would probably be harder to get two unrelated people approved for a single loan than it would for you to get approved on your own. 

His story was, he failed in business 2 times and figured it out on the 3rd go around. 3billion later i got to take a picture with him.I also failed 2 times.

You're "supposed to fail?"

You could point out that since it's a rental for the last 12 years, she will have some serious capital gains to pay with a regular bank-financed sale, and with your proposal, that tax will only come due after the balloon payment. 

Has anyone had recent success finding a bank that will offer a Heloc on a single family investment property in Jacksonville, Fl?

Bank will want that loan in your name.

Crazy stuff though, this industry never fails to amaze me with how shady it can be.  

I went through USAA at the time, since all my personal banking is with them. 

In fact many properties being shopped around by wholesalers are actually just expired MLS listings (properties that failed to sell on the MLS) or active MLS listings under contract by a wholesaler.