I'm looking to do my first project and I'm not quite sure how to craft the offer to benefit the investor. 

@Michelle SharkoAnswering questions in step by step fashion:- Is it a good thing to do or not is a personal finance decision and it depends on the person asking it, their risk tolerance which in part has to do with how this HELOC or line of credit works and how your personality fares relative to taking on new debt (a person more adverse to debt might have sufficient savings and temperament to pay down/back the debt versus a financially liberal person might get in over their skii's as).

It will familiarize you with the basic terminology and benefits.

I had looked for the relatives of the deceased owner before with no success. 

Real estate can be a powerful way to achieve both tax benefits and cash flow, and there are many strategies to fit your goals.

Benefit from Continued Appreciation: Real estate in Austin and San Antonio has shown robust appreciation over the years.

Like aircraft checklists and vehicle operators manuals (the -10s), one can benefit from extensive research, trial and error, and deliberate improvement principles gained by the many that have gone the path before. 

I have two separate but related questions:  (1) What are my obligations to my tenants while the house is uninhabitable?

Yes it's true you're not benefitting from the tax benefits today, but that's not the point of a retirement account. 

I'm not entirely new to RE investing, just new to a program where someone else is doing most/if not all of the work and I'm benefiting, despite paying Kris's team to do part or all of the work.