I have personal relationship with the owner of the project.

You need a pitch to win in a personal letter.

Personally, I am gearing up to buy as many as many SFH’s as I can over the next few months.Ft.

Don't take it personally. 

So, when you say they not do report on your personal credit report I guess you are talking about non-recourse loans? 

Unfortunately, the only serious applicants I've received either have a criminal history, poor references from previous or current landlords, or have faced evictions in the past three years.

Ana,Based on experience and this market me personally I would avoid a HELOC for a few reasons.

My PM used to have a person who did the payments and every year around Feb, she'd send out an annual statement for your taxes showing how much you got in rent, spent in repairs and management fees. 

I look at the whole person.

@Bruce Woodruff: Sounds like a personal problem.