Would you recommend the route of a first lien HELOC based on the above situation and information?

That could change the situation, so check with your CPA about that.If you want more details about depreciation and cost segregation, check out the IRS guide on rental property deductions: IRS Rental Property Tax Guide.Hope this helps!

Sorry to hear you're going through that situation.

I have an interesting situation with a now former tenant that has come up.  

After stopping by to see and knocking on the door, no answer to get in contact of the owner, I looked up to find the home is now 4  years delinquent on taxes.The house is needing much work unfortunately and with taxes being delinquent, the owner may not have the funds to rectify any of the situation. 

It's recommended to discuss with an attorney knowledgeable in your state laws to determine the benefit and best structure for your situation. 

Umbrella insurance is usually a very large policy of $1 million or more, extending your coverage for larger situations.

That said, the other agent and I frequently reduce our commissions on these deals to make them work and, even if the agents don't, the seller would still be getting around 3% at closing with a 10% down payment which, to me, could be a win-win depending on their situation.  

you need to dodge capital gains and foreign buyer tax.. you should consult a tax expert..If I was in this situation I would just sell (not advice) and buy a cash flowing mobile home park in the midwest

Any other questions about my situation let me know.