I also process them in the order I receive them and refund the remaining applicants if a solid tenant found. 

Tenant had the nerve to call me today and ask if she could remain in the condo through Sunday.  

Now if I was to talk to the 2nd and 3rd and they agree on settling for 1/2 of their position on the property it would look like thisDelinquent amount and 1st remains the same2nd $ 27,0003rd $ 12,500Total $ 217,500I could sweeten the pot and offer $ 100,000 to the owners for the keys bring my grand total to $ 317,500Comparable sales as of 2-4 months ago is low to high $ 600,000.

Whether that works or not remains to be seen, but there is concerted governmental effort and private investment to make something happen there.  

Now if I was to talk to the 2nd and 3rd and they agree on settling for 1/2 of their position on the property it would look like thisDelinquent amount and 1st remains the same2nd $ 27,0003rd $ 12,500Total $ 217,500I could sweeten the pot and offer $ 100,000 to the owners for the keys bring my grand total to $ 317,500Comparable sales as of 2-4 months ago is low to high $ 600,000.

Just to clarify, it is not called hard money because it is "hard to find" in fact, hard money lenders are a dime a dozen.As to your issue, getting a job now full time will not be good enough to satisfy lender requirements for a HELOC or any other institutional money source.

He simply wants out of the property which is the only one he owns, and when I asked him about the terms, he said $1500 down at $500 a month til the remaining balance of the purchase price is paid off (total purchase price $15k).

Good luck and remain positive and persistent even during discouraging times. 

FHA mortgages makes qualifying slightly easier than other real estate loan programs, by crediting the buyer with up to 75% of rental income of the remaining unit as "income" providing the buyer with a investment rental home.

Account Closed   Make the offer subject to whatever conditions you need to have satisfied in order to move forward.