Hi I am looking for HELOC on a primary SFH...speaking with some lenders I've run into two issues....(1) some won't give you credit for rental income if you haven't owned the property for two years (show two years of stable rental income) which can skew your DTI unfavorably (2) one lender said they don't give a HELOC if a borrower is carrying more than 6 mortgages.Would anyone have any leads for a potential lender?

The payoff is worth it in the long run with reliable, on-time rent payments and tenants who are more likely to stay long-term, and take care of your property. 

Have you run the numbers on the cost of the land (and the cost of any demo of an existing property) and vertical construction costs versus the cost of acquisition/rehab of an existing property? 

Once they are in the property, you run the risk of them squatting the place.

If you are then this probably would not be too crazy to get it up and running with some work.

He is telling me that it is my responsibility to pay for a new HVAC unit which will run between $7k-$8k.  

I totally agree with the idea that local markets offer better value in the long run that cheaper out-of-state markets.Finally, Just because an experienced property manager would not do a house hack or purchase a small multifamily property does not mean it would not be a good fit for you and your situation.

People will find you if they want to find you. if you get a mortgage you will need to sign it (or whoever runs the trust).

I found a run down house in a great neighborhood.

Not a registered "architect" or "engineer," but, have been a business owner since 2007.