Personally, I wouldn't use a heloc to then go purchase a primary residence, unless what you can rent the current SFH for enough to cover the current mortgage (assuming there is one on the property) and the heloc payments.

The biggest factor is thoroughly review their credit score report especially on time payment record and score.

There is no issue with eviction for non-payment of rent during the winter in Wisconsin.

The tenant hasn’t been the greatest: late payment with not always paying late fees, multiple complaints from the neighbors, changing phone numbers, ect .

We paid $1.775 million for the notes, worked out a modification with the borrower, and received the first 5 monthly payments relatively on time.  

I'm glad to know you received your January payment.

The only negotiation with the tenant after the judgment is the payment plan for the money owed to you.

I will be into it about $9,371 with closing and have a payment PITI including HOA of $1,205.

A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

Time remains of essence, we file eviction within 7 days of no payment.