I recommend you research the local section 8 program. 

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

. - So, recommend having that first hire document the crap out of what you want them to do.

Lastly, I’d recommend running the numbers for your long-term goals.

What some people on BP don't seem to understand is to stop making the assumption that everyone is not working their best at thisif you have to provide negative comments or any sort of negativity when providing advice, then advice or recommendations shouldn't be your fortéAs i mentioned before.

I would recommend at least $300-$400/month in cash flow after expenses to make this potentially worthwhile on a SFH.

I’d recommend confirming the scope of work and checking with the Tennessee Board for Licensing Contractors to determine if a license is needed for your specific project.

I’ve already found some potential buyers interested in the deals.However, one buyer has recommended that I terminate my contracts with the owner and instead work directly with them.

What legal actions are recommended here?

I would not recommend relying on a HELOC as emergency funds for everyone.