As you may predict, that is my weakness. 

You can absolutely screen your tenants, but the screening doesn't predict what could happen in the house with 4 strangers in it.  

First off, St Paul has a somewhat neglected housing stock in certain areas which predictable has under market rents and has shown signs of revitalization.

All 3 were instrumental getting this done.

@Ryan Garant Predicting the market is the hardest part!

I know a lot of people use the MLS to find deals but what other sites or software do you guys use or have used to find and predict best places to buy? 

I’d love to hear others’ thoughts on this.I think a lot of new things need to fall into place under the "new normal" with which we are currently operating before we can predict anything.

Using a promissory note (which spells out the terms) and a deed of trust which should be recorded with the county recorder's office (which is your debt instrument which liens the title of the property for the amount owed) is the best way to construct this deal you have with your family member.

The article said that HELOCs are floating-rate instruments, so they're less attractive to take on a floating-rate loan at a higher rate than a general low and a fixed rate.My issue is that I don't want to pay $3,000 to do a cash-out refinance and I don't know how long it will take to get a deal (WHATEVER I define a DEAL as ;) ), but maybe I'm missing something here...If you are approved for a HELOC and the value of your home goes down, will you still have access to all of the funds?

My prediction: you lose this deal over what you're thinking.