The contract says no one else besides them can be there for over a week so it is my choice,  what options should I consider for this, a rent increase per child, security deposit increased. 

Second issue is that it would be really difficult to cash flow, while paying both notes, especially with one lender in second position (which would most likely have a higher rate, plus points to offset their risk.)Now if you got the property under contract for 75% of the market value, which means you would have built in equity, and willing to personally guarantee (full recourse) then yea it may work out.If it's a good enough deal then you could even bring in an equity partner. 50 percent of a great deal is better than 100% of no deal.Cheers! 

A national builder is under contract to purchase all the finished lots to construct the units.

The hard thing to do is identify, value, analyze, negotiate and place under contract a “deal” meeting wholesalers minimum requirements that also has room for a decent “wholesalers” fee.  

Spend your time on your contracts, insurance, and operations.Contracts-  copy, borrow from someone else as a starting point.  

The fact that you’re being cautious and analyzing strategies is actually a good thing—it’s all about making smart, informed decisions.

I am under contract for purchase of my next project but then I am stuck on that deal and not able to take down another deal without more capital.

Just make sure you run your numbers well and that it make sense, not just because it "looks nice", be smart, investing is a marathon, not a sprint!

Just ensure the interest rate on the HELOC doesn’t eat up too much of those tax savings, and it could be a smart move.

If you do a deal without an agent that has a fiduciary duty to you, make sure your attorney prepares the purchase contract.