If I have access to $100k from a HELOC, I wouldn't stress out about not having a ton of "cash in the bank."

While I agree with pretty much everything you said, one can almost never been too cautious about being concerned about liability in today's overly litigious society.

Moving stresses him out, so he will continue to reside in the backyard.

I'm interested in self-directing my Roth IRA and investing in real estate.I recently read Tax-Free Wealth by Tom Wheelwright and he stresses the point that you should not nest a tax-advantaged investment in another tax shelter.

@Maria KnottGenerally these individuals are stressed, anxious and unfortunately, in denial.

While it's true that if I had held onto it until the mortgage was paid, I would have a little cash flow then... the stress and the headache until that point is not something I would advise. 

Starting out REI can be stressful, and it's definitely an uphill battle at first just because the learning curve is so steep.

I am not going to be wasting mailers to wife/husband who still lives at the property and have decided to focus on family who may be in a stressful situation and have to deal with the property.I need some feedback from the BP community before dedicating some time and $$ over the next few months.

Not having the cash on hand can be stressful but working with a Hard Money lender could be an option.

A good property manager will pay for themselves many times over while dramatically reducing your stress and workload.