I'm not sure if the program is still going on, but has definitely revitalized a lot of the area when it was once destined to follow the way of other older cities that are aging out of existence both in terms of people and property. 

I also require additional security deposit and sometimes a guarantor if they were approved in this manner.I also agree that this situation sounds like a pattern not a one-time mistake or short term tough situation that caused this.  

Investment Info:Small multi-family (2-4 units) buy & hold investment.

The reason I ask is at that rent point there is no profit on a sustained hold.   

Being out of state, I would suggest vetting your "team", meaning find an investor realtor, lender/s (hard $ / long term), property manager, contractors, etc.

Example, a short pay history - non-redeeming factor, a 25% down payment, a redeeming factor to counter the short pay history.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

To put this in terms, that's making yourself a "Quantum Real Estate Investor".

I have properties in the Buffalo area (a mix of long term and short term) but was looking into Syracuse also, so would be interested to hear the responses.  

Will you use the HELOC as a short-term bridge, or plan to hold it longer?