Residential HELOC's tend to calculate interest per month X average daily balance (average of all days per month) so this reduces the impact for financiall disciplined folks who routinely spend less than income taken in each month.7) Wouldnt paying extra with a regular conventional 30 year fixed (Constant payment mortgage - CPM) be the same or better, apples to apples?

I'm a US ARMY RANGER VETERAN, whom just went through a divorce ..stuck at a crossroads 29 years old 2 kids I receive disability every month but want that money working for me, I will be reading you guys and gals post taking notes and understanding different licenses I need.

As to the accounting of paying all rent into a jointly owned account (keep in mind, bank accounts can also be tenants in common or joint tenants, or wholly owned by one with signatory authority to each, make sure you think through how you're going to want to do this) and then seeking capital gain exclusion down the road upon sale, I believe that could work, but I am not a CPA and do not routinely handle tax matters, so I would defer to a CPA on this issue.

I have a lot of disability that is exempt from taxes.

Given that you called Lance by the name of Corey, I'd say that you hit the nail on the head when you said "a bit slow on the uptake" ...From what I read, Lance is re-creating what he routinely encounters, and this is not some verbatim exact real-life example.

I had a duplex years ago, had a company renting both units for disabled tenants. 

Many times people that have mental health issues or some other illness get Social Security DISABILITY.

For example, maybe your wife has a guaranteed pension and you don't need your 401k money for retirement. ...The courts are routinely throwing out those pension guarantees now, especially if it is a state or municipality.Fundamentally, you should be investing in real estate to IMPROVE your financial picture, not put it at higher risk just for the sake of doing a deal.

The Lease will be terminated 30 days after the due date of the next Rent payment.Tenant Assumes Responsibility for the following Routine Maintenance: Granite and stainless steel appliances if applicable.Yard Maintenance (mowing, edging, feeding, seeding, maintaining sprinklers) but not all inclusiveTenant responsible smoke/CO detector, changing all the batteries and alerting (by written notice with a written response signifying the letter has been received) the landlord to when they are no longer in working orders.Tenants are responsible for all windows.

I do routine maintenance checks while I'm there & chat with the tenants to see if anything is starting to fall apart.