I am a Financial Education Service Agent helping clients of Real Estate Agents correct their credit issues so they can obtain home ownership.

That isn't to be said everywhere, but there's always someone else:)  I tracked craigslist/trulia/zillow/etc. for a few months, and still do, to see what apartments actually got moved into, versus what is still on the market for asking rents today.

This works well for the seller because they don't have a foreclosure on record and while you make payments, their credit is repaired.

Redfin.com is the next best thing to having MLS access...also HomeSnap.com, they're both connected to ARMLS and they both have private notes features where you can track and make notes on each property you're watching (although Redfin is eliminating that feature, write them and ask them not too!!)!

I've heard I can open a home equity line of credit but is that my best option.

Do you have a line of credit on your personal house?

I follow public notices in my home state of Michigan to track foreclosures in areas I invest in and sometimes I see HOA's foreclosing for under $10K. 

Consider the debt that will weigh on your credit as well.

Is it possible to get a line of credit on a rental property these days? 

Cozy does charge for some things (i.e. credit checks, express payments), but their basic rent collection service really is free and in another discussion here on BP they said they intend to keep it that way.