She didnt, and two weeks after going under contract, we got a credit-monitoring notification that this mortgage had gone delinquent.

After I got an LLC set up, I was set up with a credit coach and he is helping me get my corporate credit set up.

This will allow you to remove the person and do the financing on your own.Home Equity Loan/Line of Credit: Since you're looking to access equity, a home equity loan or line of credit (HELOC) can be a good option.

I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.

States like New Jersey and New York highly favor the tenant and evictions are very difficult and can take months.  

A couple issues with Credit/income on paper.

Although I've considered a future line of credit against the property as my best long term option, I would need to pay down the remaining balance first.

.: Quote from @Jay Hinrichs: when I was buying notes I did not even run credit.. but I only paid 10 to 20 cents on the dollar.  

Run a credit/screening report on yourself.

From our experience with clients, you’d typically expect to pay around $1,000–$1,500 for a single-property return, depending on your situation.If that $6K includes monthly bookkeeping and accounting, it could be reasonable; it could also be low, or high... it all really depends on the number of transactions, bank/credit card accounts, and the complexity of your finances.