While I am not banking on it I do think with inflation will come rent increases that will help hedge against it. 

As Jay mentioned they must be NMLS licensed if owner occupant of in several states even commercial needs licensing.The NMLS is like the database, each state has a division of banking that oversees lending requirements then you also on the federal level have CFPB as well as consumer protection laws.I want to add that I believe yesterday the CFPB is undergoing changes, but if it goes away that does not mean that many of the laws in place especially consumer protection laws would go away. 

Although I’m sure the bank made it clear that rents would have to go up quite a bit in order to meet the monthly mortgage obligation.

Bank pushed us to 40% down payment so also executed a $85K seller carry-back loan to cross the finish line.

But you do have to qualify for the seller's monthly payments as the bank is involved in the whole process and the loan is being transferred to your name. 

Quote from @Eduardo Perez-Borroto: Since the HELOC was not used on improving the home you cannot deduct the interest, nor use that to offset your capital gain.Would adding a battery bank system to my solar panels count as home improvement? 

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

Just about any bank can open a joint account. 

“BUT” up to 60% occupancy all of the cash flow goes to the bank for PI which is good.   

Also, banks typically use a valuation process that does not favor the BRRRR strategy.