Consult with your attorney but I would expect your lease provides that tenant is in default for late payment, triggering numerous default options (acceleration of outstanding rent owed, right to evict, etc.) for you as LL.

Wanted to update my timeline and post a couple of outstanding questions I still have.

One other note, if you want to collect on your certificate by sending to a tax deed auction (where you have no advantage) you must also pay off all the other outstanding certificates, so you could be into for 5-10 times your initial investment.

Moreover, the disadvantage of the HELOC is it can have a low starting interest rate, with a variable monthly rate based on the outstanding balance, vice if you have a fixed rate loan when you refinance. 

Hi Victor,Look at the size of your outstanding debt.  

@Chad Smith@Chris Mason1) Regarding taking a 401k loan: You would have to confirm that your 401k plan allows for a 401k participant loan (and that you have not had a outstanding loan in the last 12 months since your ability to take a loan is reduced by the amount of the highest outstanding balance of any 401k loan that was outstanding in the last 12 months).If yes, you can borrow up to 50% of the balance not to exceed $50,000.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

In our state a Judge will not award us a judgment for outstanding deposit money.  

One if they're 3 days late and a second late fee if there's any outstanding balance on the 15th of the month.

You can contact the local jurisdictions building, fire prevention, planning departments, etc . for public records requests and ask them if there is any outstanding violations or fines associated with the property in question.

Example problems:Applicant deniedApplicant approved, fails to pay depositApplicant approved, fails to move in or pay rent on scheduled dateTenant moves in, complains about condition of rentalTenant adds unauthorized pet or personTenant pays rent or other outstanding charge lateTenant doesn't pay rent or other outstanding chargeNoise complaint or other lease violationMultiple noise complaints or other lease violationsTenant abandons rentalTenant moves out but leaves property behindTenant wants to terminate early for personal reasonsTenant wants to terminate for loss of job, death, or other legitimate causeYou want Tenant out because they're a pain in your neckTenant refuses to allow you access to inspect or conduct maintenanceYou can read BP and get a list of the most common issues.