Also, you should have her security deposit, so you could also use that to pay for the new lease, and tell the new landlord that you are paying it out of her security deposit.I would start by asking some probing questions to your tenant, such as, I'm considering paying for your 1st month to move out by xx date, do you have a new location picked out?

Quote from @Milton Chamberlain: Hi Joe,KC provides a wide variety of investment opportunities with its cultural city point and wide variety of standalone suburbs and (further out) rural farm communities.

@Trevor WilcoxIn order to get a line of credit the lender will need to secure / collateralize it against existing asset(s).

And what happens to the security deposits? 

Someone had contacted me through BP and I was able to work through them to secure the deal.

My goal is simple: once we secure a deal, I buy directly from the seller with cash, and you earn a fee.Are these kinds of arrangements common?

I also look widely for HELOCs for my own rental portfolio and am not seeing danger signs there, either, defined by me as lenders cutting off lines or no longer extending lines. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

If you aren't securing properties at a substantial discount, you may end up maximizing the LTV, resulting in higher interest rates.

But the concepts apply across a wide range of topics, so I'm posting my TED talk separately.1.