Willing to extend benefit of the doubt to someone packing up shakers (not paying attention), and yes, all this is small beans and easily replaced.

I would recommend BackFlip, but you do pay a little more on fees. 

I even heard of a landlord being sued and losing and having to back pay all the rent payments. 

You can stack those up and pay the debt down 

You will pay about 30% in W-2 wages and the remainder as ordinary income. 

They have some of the most extensive fees because this way they can charge you fees but low points.You can expect to pay about 1,500 in closing cost fees: Legal, processing, underwriting.To get in a good loan, you would need some experience in real estate flipping/holding preferably in Houston and be 100k liquid and have credit 700+.You fill those three needs and I can help you for sure.

She will be finishing up her doctorate and finding a job and I will be finishing up my degree and getting a better paying job (hopefully) in the next 6 months.

Plan is, ill pay Heloc in a year from what I save monthly. 

This would be very temporary because we would either sell our 1st house once we move or rent it out then use all of our extra income to pay off the HELOC. 

Mechanicals are in good shapeARV: $280k-$300k~$74kish left on the mortgage - 6.75% interest about $890 monthly payment / HOA ~$200 a month / Insurance $35 a month / Taxes $355 per month / Tenant pays Water, Gas Heat.