THIS IS NOT LEGAL ADVICE.Highly recommend discussing with an attorney if you decide to pursue any of the above.Thank you for the information and that was my concern.

I understand the concern about using a HELOC for a down payment and the potential challenges with cash flow.

., etc).and no doubt a host of other things.Then there's your remedy if she fails to keep her end of the bargain, including who gets appreciation, right to possess or maintain, etc.Your credit score is far down the list of concerns

I know that pet damage is a big concern for many self-managing landlords.

I am concerned about where all this data is stored

Concerning owning a rental property: Have you read the discussions concerning the 2% and 50% rule to use as a guide?

Even rumors spreading would be a concern. 

Securing a sponsor can be challenging, especially when they have concerns about your capabilities to manage the property and keep it profitable.So, let me share a suggestion that might make a potential sponsor more comfortable:Offer to have them oversee the asset and property management aspects, including the control over cash flow.

My feelings won't be hurt if the seller tells me my offer is so low I'm either incompetent or looking to steal the property, so I'm not concerned if his are hurt because my offer says you (the seller) overpaid.Also, if I'm really interested in the property rather than just looking for a quick yes to a low offer, I like to know who I'm dealing with. 

However when I ran the contract past my attorney, he was concerned about the high $ for a non-refundable earnest and no allowable contingency for inspection.