I currently have 2 pending offers on the first 2 properties but no inquiries as of yet on the third one, which lead me to my question: Should I go with a HELOC?

Here are some additional activities that count, toward real estate professional and material participation hours.Research market for real estate transaction opportunities; current office market rates; terms of financingMaking offer contracts for properties that you end up buyingNegotiation for acquisition of rental properties that you end up purchasing; including directing due diligence and managing financial projections/business plansObtaining financing for properties that you purchaseProperty inspectionsAdvertisingMeeting with Prospective Tenants/showing properties to prospective tenantsNegotiate, obtain, & review proposals and contracts with vendors (insurance, utilities, etc) for property servicesReview and Negotiate The Terms of Sale AgreementsStaging and Decorating3rd party contractor, vendor, or service provider supervision

Ultimately, having a guarantor offers added peace of mind.

Thanks for sharing, I agree that time and long term investing offers the best return on the monumental investment it takes to  update a home.

The market certainly offers a tremendous pool of renters in the form of students and staff as @Jonathan Greene pointed out.

If you do not have any background check results of the current tenants and occupants, you should consider doing that before offering a new 1 year lease term.

I am submitting 5 - 10 offers on SFH's each week in hopes of taking advantage of the current market and to take advantage of the future market.

Hey Deborah, What terms are they offering?

It is an entire program with participating lenders, and the process should be started before you start putting out offers on properties.Read more here:https://www.nj.gov/dca/hmfa/roadhome/index.htmlIf you need funds to close, I would probably suggest starting the process for your 401k loan now.

Do you think the larger homes offer a higher return?