The interest rate increase will hurt less since the loan balance won't be extremely high in this case.

HELOC are generally balance sheet meaning the loan is held on the lender's book, not sold into the secondary market.

It all depends on your goals, the number of properties you want to acquire, and how you can build an efficient process that maximizes your working capital to achieve those goals.

If you can rent it out for Aug 1 (or sooner), return the balance of her last months' rent and deposit. 

We've set up a series of checks and balances to avoid these delays, but curious as to your thoughts.

Advice is best received from those that truly understand your goals and from those that have accomplished something similar to what you want to achieve.

Consider a balanced approach by diversifying your portfolio with both cities.

They will go above and beyond to help to achieve your realistic goals.  

But a discount/special favor that not everyone would have had the ability to achieve is also not something I could bring my own self to do either.

this is why investors should try to achieve paid for real estate  small number of grade b or A homes leads to the lifestyle pretty much everyone on BP wants.. no work and cash flow :)  Good job Bill