Should i just stop stressing and go apply for the heloc so i can start investing now or should i actually wait and pay down my debt because i most likely wont get approved for a 95 or 100% heloc?

Make sure your financing is buttoned up before you start writing offers as you'll probably be up against experienced cash buyers. 

It all ends up in the same checking account, by the push of a button.

I wanted to manage it ourselves to save the money and to gain the experience but at the same time I don’t want to stress my wife out with it all.

It was the stress of getting nasty letters from the state having to go to an informal hearing.. we were able to nip it in the bud and not have a formal hearing.. after 4 decades and not one complaint on my record here I sat in front of a regulator having him throw the Howry test at me..

He did stress that we should require the tenants get their own personal liability and personal property insurance, but I wanted to see what BP thought.Does anyone have any experience with this, or know how I should go about insuring the property? 

Whoops, fat fingered the Post Reply button.

I dont think she's going anywhere...just trying to push my button for a perfect home.

The stress and aggravation isn't worth it..... 

Once you collect a few doors you may get better return on investment and on your time/stress elsewhere.