Go with the HELOC.

And the more there is, the more log jammed the system get's, the longer they all take. 

The 'guy' can either move out immediately or the can both submit an application to rent the property together. 

Welcome to the world of real estate investing, and congratulations on taking the first steps toward learning about this exciting space!

We signed the lease and the tenant moved in the unit in Nov.

However some of the "easy parts" of residential change like financing and the term of the note.

First, most investors and owners of real estate related businesses are in one or more of the following situations1- they’re unable to duplicate their expertise that drives the ROI and they are at their personal max capacity as to time2- they’re obtaining high ROI by use of excessive leverage 3 - they’re obtaining high ROI by taking excessive risk4- they hit correct timing in the correct market, and this is not necessarily repeatable with any probabilityIn order for an investment or business to scale, we need the ROI (on a risk adjusted basis) to be sufficient to cover a PREMIUM risk adjusted return to passive investors; all expenses of managing the assets and the business, and a significant return to the “sponsor” providing compensation to him making the work, risk and time worth while. 

For many years, I've been studying and following this community to dive into the world of real estate as an investor.

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

Are the comps from the Bigger Pockets per unit figures?