In an emergency situation you could always access the HELOC at 8%-13%.This emergency situation should be considered before the funds are accessed with either method, can you afford to have no savings AND be paying 8%-13%.

Obviously, if the tenants fail to timely pay rent, you can enforce their obligations with a notice to pay.Your question is legal in nature, so I recommend that you consult your landlord or FHA attorney in your state about it.

This is not to say this is the only successful method of real estate investing, but as I'm sure you're well aware, with current interest rates and overall market conditions, sourcing and acquiring LTR deals is difficult unless you're going off-market. 

That's the simple, proven method that leads to success.

@Alessa LeSarThe BRRRR method is a way to grow a a limited-capital real estate portfolio by buying homes, fixing them up, renting them out, refinancing, and doing it all over again.

can you share your methods and tools?

The same tenants that didn't pay you rent while they were residents likely won't pay even if you get a judgment against them.For better or worse, this is the nature of the business we've chosen!

Good luck and so sorry this is happening, unfortunately it's the nature of the beast!

What we are looking for:To invest in both the BRRRR method/flipping properties and buy-and-hold properties.

Although it can feel 'old-school' sometimes local buyers prefer traditional marketing methods.