The mentor will have an opportunity to know you, see your determination and will, and then decide to pour their time and energy into helping you develop.

Also, in general, I wouldn't solely rely on a single source, rather: 1) collect feedback from various sources, 2) decide which components are the most critical for you personally, 3) weigh in on the pros and cons, 4) speak with all of the operators to add to the list of pros and cons, 5) and only then make an informed decision. 

There in fact is no law in Texas saying you cannot have a HELOC on a non-owner occupied property.

If so, you can't really pivot to short-term rentals there and have to capitalize on the inn vibe and in-house services.My major question is why is the current owner, who bought it after it sat vacant for twenty years, looking to sell you the problem they can't fix?

I've been managing for 15 years and have helped a couple owners change/expand their portfolio. 

I only invest in A and  B areas  that usually makes renting some what easy .Having rentals loaned out to the wazoo can cause a lot of stress on owners to rent out immediately  .If the market softens up winter etc...

Finally decided to pull the trigger! 

The loan doesn't decide its lien position the order in which voluntary liens (mortgages) are files determine that. 2.

I owner occupy the home, renting a room to a friend at $650/mo, and the lower unit rents for $1850/mo - total rental income of $2500/mo.

Trying to decide if it’s better to take a heloc and keep my rate or just refi.