There will always be debt servicing costs which each type of funding.In using the drawn funds from a HELOC, you can follow the exact same procedure as your example #4..couldn't you?

I mean you have been doing it already and since you can cover you debt service buying an house that will provide you two additional sources of income if you can make it cash flow that can also help you pay off your current debt, and as you pointed out you would also have a long term asset that should reasonable go up in value as well over time.

If you see the market starting to turn, you can generally get your flip completed quickly and get it on the market before you see a serious decline in values/profits. 

@Bharath Danda, main thing to consider is that the rent is likely to DECLINE over time.

Be a service to the seller and make a connection.

This has historically been a difficult property to rent, and it has been vacant for 2 months, with no other qualified applicants at this time.The applicants have 2 small "service dogs" with certificates from a random website. 

Home 365 is a new subscription based home maintenance service created for landlords and property managers.

You or the seller may choose to pay hourly for such a service.

@Ryan Blake I'm pretty sure they do but also they provide a RMLO services.

@Haresh MelwaniTry IRA Services Trust Company.