I think maximizing the occupancy in a residence is a very acceptable way to reduce costs, but many of them are already doing that.

My purpose for the HELOC is to get into a property without having a home sale contingency to increase my odds of the offer getting accepted.

I also can't afford to own in the side of town that I'd like to be in (Cary/Apex) but can afford to rent (my children were recently accepted to schools in this area). 

Other than closing costs, it seems to be a safer way to go and probably wouldn’t have as much issue finding lenders if your DTI is acceptable.

The lease specifies a deposit amount and you accepted less than that without modifying the lease (or maybe you did modify it but didn't mention it?)

That is some high praise from Mr.

- Yes but as you mentioned this is never accepted in court.

@Andy OshodiIt seems that you're having trouble locating acceptable houses for house hacking in the Houston market, especially in the neighborhoods around the medical center.

When you find a great deal and want to sign a contract with the seller do you sign it before you find a buyer or do talk to buyer, discuss the deals numbers such as and Max acceptable offer, what work needs to be done on the house ... etc. and then sign the contract with the seller once the criteria with the buyer has been met. 

I ask because I don't see many listings online that don't include much detail...and wondering if I should.All 18+ applicants must complete the application and pay the application fee.Credit score of 700+, No bills in collection.Steady employment or other acceptable source of regular income for 3+ years.Gross monthly income at least 3.5 times the monthly rental rate.Monthly payment Debt-to-gross-income ratio no higher than 40%.