Your monthly HELOC payment is way, way, way too high.

Cold pull in some cash for another down payment. . 

After that, it will be following up with them.In sales, people work with folks they like and/or trust.

Deposit Trust report12.

You want to invest just to have a place to live and potentially offsetting your mortgage payment by renting out the vacated rooms or having x amount of cashflow in the future?

But I also think that if I can rent it to cover the payment and expenses, why not let someone else purchase the house for me and keep it indefinitely...Then there is the fact you mentioned about the 121 exclusion, which I would qualify for now...a bit overwhelming making these decisions so thank you for your insight.

Additionally, consider using a secure payment method for the deposit to prevent issues.

@Gabriel Mesa Fairly straightforward in the suburbs.In the City of Detroit you can NOT use zip codes, you can use Neighborhoods if you know what you are doing, but you need a trusted local to check out block-by-block to finalize decisions.Since there's a lot of rentals in the City, you also need to decide BEFORE you start a rehab, if you are targeting selling to a landlord or an owner-occupant buyer.- You tenant-proof a rental, but need higher finishes on an owner-occupant.

New investors think they can trust them and not give them a full work order and leave them be and that does not work.

Then you can have a conventional roommate situation and save money towards the next down payment.