The Brrr principle seems to be hindered (at least that’s what I witnessed buying my first house where chipping paint was even an issue).any thoughts are appreciated

If an agent wants to "take advantage of a buyer, " this ethical issue already plagues the industry. 

You as the business owner are ultimately responsible (legally and ethically) for the actions taken under that mantle.As the OP stated, this is a new business relationship, and in my opinion there is much more downside to being laissez faire at this point as opposed to "hands on."

But i think the general principles still apply.

I am sure the discipline and work ethic from your service will carry over to REI.

The loan is interest only and it accrues and is paid when the loan is paid off - there are no monthly interest or principle payments during the life of the loan.

I've worked on a few deals with him and his communication, work ethic, knowledge, and integrity is top notch.If you would like his contact info. please feel free to send me a message and I'll happily pass it along.

These are professionals with additional training and a stricter code of ethics.

Would the rents cover the principle and interest of the HELOC?

@Michael Watts, It is my opinion that if there are unknown persons with redemption rights, the guardian ad litem's ethical responsibility will always be to request an auction.