Originally I was thinking to sell this place and move into a SFH or even a Multi Family and stay in it a year then rent it, buy another stay in it a year and rent it and keep moving along that way, but through reading BP forums and talking to some other REI it seems like possibly taking a HELOC and staying in this house a bit longer might be a good option because I will have a fair amount of equity.

The normal interest rate is fair as well  8.5% on one, 9.4% on another. 

What kinds of questions should we ask to ensure we are getting the best deal for that type of financing? 

The rent price is $1250, which is fair according to rentometer.com as well as what the property management company says.

What would be a fair amount?

This allows you to force appreciation thru the repairs/upgrade to Fair Market Value condition (Rent ready). 

im fairly sure yoh can change locks on a tenant that isnt paying. thats how storage units end up auctioning off units. just be careful if thats your path as the garage is right next to your primary residence. if its not a large sun, i would change locks and tell him he can have everything back when he comes with someone to clean out the garage.

Once it’s seasoned after 6 months, refinance through a local bank or credit union.Now, I am a fairly new investor with my real estate license and a few units under my belt but I recently left a regular 9-5 and want to see what my options are in order to refi on the property with no W2 income.

If you only have a few POHs you want to get rid of that may fit the bill too instead of rent credit, which is fairly management heavy to institute.

QBs down loads spread sheets fairly easy but I am finally getting used to QBs reports and liking it more.