Hey John, if your priority is security paying off the mortgage in 5-6 years would give you a solid $4K/month net.Alternatively, you could use the HELOC to acquire a few rentals, likely in out of state cash flow markets with strong price to rent ratio.

However, it may require you to sign up and link your bank account, so it’s essential to verify the app’s legitimacy, security, and any associated fees before proceeding.Your tenant mentioned that the app helps build their credit, which is a feature some rent payment platforms offer.

I thought it was securing funds FROM private lenders to cover deals for investors- make a deal and get a cut.

After evaluating the numbers, we negotiated a purchase price of $45,000, ensuring enough margin to cover renovations and still secure a solid profit.

I’m in an area with a serious deficit of housing and it’s still taking me at least 3 weeks to secure a good tenant.

Sometimes the quotes I received were much higher than what I found on my own   Why should they keep the security deposit?  

The guy is meeting the rental criteria income wise.

We also received a $2400 security deposit.

Every investor has a different approach, but I personally buy my rentals the same way I buy my flips..at a deep discount using hard/private money, then refinance with a rate-and-term loan to secure a lowest interest rate.Ultimately, it comes down to your goals, risk tolerance, and ability to find value-add opportunities.

If you have any more questions or think you'll need help securing funding for any future projects, feel free to DM me.