I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

I would look at it in terms of whether you can afford a worst case scenario where you're covering the deductible and have a credit line or cash to front the re-build cost and getting reimbursed from insurance afterwards.

You can decline them off their credit, background and for not having 2 past positive references.

All Landlords risk tenants damaging the home, but a NICE home attracts NICE tenants so the fact that you've made the home very NICE means you should be able to take your pick of applicants.

The home was in rough shape—think mold, a hole in the roof, and years of water damage.

His God complex and giant ego won't allow him to reflect on the damage he's done  keep in mind if the SEC detects a serious issue and one that could harm investors right now they have the power to take emergency action and shut them down.

Hi Jerrell,  The best option for trying to get a HELOC on a property would be to check with local credit unions. 

@Melissa SejourRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

A couple questions:1) Has anyone worked with local lenders like a local bank or credit union?

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.