@Thomas Condon Both strategies work, and both require discipline.

Dave Ramsey’s advice is best for the 90% of Americans that have 0 financial discipline. 

Credit Card  and HELOC loans are usually a last resort and require much discipline and responsibility when the bulling statements come and keeping their payment requirements done on time and paid off as soon as possible. 

Back to the original posting, if this tenant has only been there a month, and can't come up with the rent, there are probably some underlying problems and a lack of financial discipline. 

What's needed here is discipline, grit and a willingness to make sacrifices so the OP doesn't end up being a debt slave for the rest of his one and only life.  

He may need some care and discipline in his life.

If you have the discipline to not repeat mistakes and learn from others.

It takes a level of discipline not to be the winning bid on a property, but if the numbers don't work you have to walk away.

A disciplined McDonald's manager or custodian could accomplish this feat. 

(ARV x .65) - repair costs, holding costs, etc = Max OfferStarted my career with this formula and if you can stay disciplined enough not to violate it there's plenty of readily available capital to borrow.Go get it dawg!