The report says "Accept" with a 754 score but states:Insufficient payment activity over the last yearToo many inquiriesLength of time revolving accounts have been established is too shortNot enough balance decreases on active non-mortgage accountsalso on the main page of the report it says:SSN may be invalid.We suggest that you verify the applicant's identity.Would you take this tenant?

Look at a HELOC as a credit card(revolving credit) secured by your home.

It is revolving, open ended mortgage that doubles as a checking and savings account.

What is the meeting going to revolve around?

Most people are used to cash advances from typical big banks like Chase, B of A, Citi, Wells, and such but credit cards with credit unions like Penfed.org, navyfederal.org, DCU.org, BECU.org, western.org, obee.com, and other CU's have rates in the 6.75% - 9.99% range which is often times cheaper than most hard money or private lenders and most of these CU's also dont have the typical 3% fee/points charged upfront for the money either.The big banks charge 18-24% usually on cash advance and they limit it to 20-25% of the total credit line so a 25k limit only provides around 5k of cash advance max while CU cards typically offer the full credit limit for your cash advance if needed.The only downside is if you max out a revolving line you'll typically drop around 80-100 FICO points till you pay it down to 0-30% of each cards respective limit.No bank will lend money when using credit card funds as equity, this depends, if you take it out during the conventional loan transaction and the underwriter knows its cash advance then you're right however, if you take it out and have the funds season for two full months on your bank statements then its no longer considered unsecured funds (credit/revolving) then you can use it for your down payment.

For smaller properties I let tenants install doorbell cams and one tenant even installed his own surveillance camera system (he's a handy guy and I was cool with him doing the install).

$500/mo net cashflow is very unrealistic unless you're buying properties with very large down payments or with cash.Largest unexpected costs usually revolve around tenant move-out repairs/cleaning above and beyond the security deposit.

I also use my HELOC for this purpose.As I’m sure you know, the HELOC is an open-ended revolving line of credit allowing you borrow from your home’s equity and only pay interest on outstanding balances.  

We were not his typical consumer debt listeners, we didn't have revolving, auto, or student debt of any kind, we only had real estate (heh, I should have known back then!)

We’ve been married for six years and are looking to move away from our monotonous lifestyle revolving around work.