My credit is excellent and because I’m self so employed I have some extra liberties when it comes to my income.

Make sure to screen them (credit/criminal checks and references) and make sure they can afford the rent. 

@Ozie Jackson  Have you tried any local banks / credit unions in your area?

Some other strong contenders that we are exploring for lines of credit now that we are really established, Farmers Bank (in Nashville but do deals here), Planters Bank, and First Advantage. 

They have a portfolio product, as well as a line of credit.

But I'll have to use a line credit, If I do all profits for a whole year will go to pay the line of credit and credit card back to fix it.

But I'll have to use a line credit, If I do all profits for a whole year will go to pay the line of credit and credit card back to fix it.

If you can put your money into an asset that is growing at 5-7%, and you can get a line of credit against that asset at Prime, then anything you do with that borrowed money that earns more than Prime is adding value on top of the dividend/interest crediting rate of the cash value in the policy.

That would clear up your credit and the HELOC would be no problem. 

Then I bill the previous tenant if it is something they caused and credit the owner.