It's essential to work with a knowledgeable real estate agent and tax advisor to ensure you are making informed and strategic investment decisions.

As a financial advisor specializing in real estate investments, I often work with clients to make these decisions on a case-by-case basis.

My wife is not currently receiving accounts yet until a more established credit history can be created for her.  

Hi Edwin,  Congratulations on your current real estate investments and saving up emergency funds.it's essential to consult with a financial advisor or real estate professional to assess the potential risks and rewards of accessing the HELOC and investing the funds.

I’ve expanded my sources of leads, but that’s a longer term project as when we establish new sources we become swamped with submissions of deals bearing no relation to our published criteria; at risk levels a river boat gambler wouldn’t touch, or flat out the source just shotgunning whatever crap comes across his desk, without even reading the documentation.  

Establish some "safeguards" to keep them honest and consistently check their work.

Setting clear investment criteria, such as the types of properties you're interested in, where you want to invest, your budget, expected returns, and how much risk you're willing to take on, is key.In order to be financially prepared, it's important to save for a down payment, establish an emergency fund, work on boosting your credit score, and look into different financing options.

Now that I'm more established I wouldn't hesitate out of state investing.

@Grant Vincent I think what your Mom needs to establish is a "life estate" as you mentioned.

I would also carry the loan and establishing a penalty for early payoff (how much penalty?)