Maybe the extra 3.65% spread between the two options isn't worth the risk of not being able to hit the extra $50/m.Just taking a quick glance at the Cleveland Heights demographic information by biggest concern is the 8.6% population decline between 2000 and 2014 and the depreciation of real estate in the area.

What would cause you quickly pass this up? 

Do you know why they wanted to move in so quickly because “they had nowhere to go”?  

I suspect property investing has created more rich than any other means.  

In reality if your flipping is successful it could be your long term  path to riches.

This community is such a supportive resource, and the opportunities for education are rich. 

The low end stuff is getting snapped up quick. 

@Rick Thompson in general the reason to use Heloc and pay cash is to get a better deal by removing financing contingency and being able to close quickly.

Otherwise, some book recommendations (these include mostly books on business/lifestyle or buy/hold investing):- "E-Myth Revisited" by Michael Gerber- "Rich Dad, Poor Dad" by Robert Kiyosaki and Sharon Lechter (this provides a more foundational perspective on money)- "Cashflow Quadrant" by Robert Kiyosaki (further builds on the "Rich Dad, Poor Dad" foundation)- "Set for Life" by Scott Trench- "Long-Distance Real Estate Investing" by David Greene- "The Book on Managing Rental Properties' by Brandon Turner and Heather Turner- "The Miracle Morning" by Hal Elrod-"HOLD" by Gary Keller (geared toward SFR)-"The ABCs of Real Estate Investing" by Ken McElroy (geared toward commercial investing)"Multi-Family Millions" by David Lyndahl (This is on my list of "To-Reads".  

I plan to scale up on buy and holds quickly and work as a buying agent for other investors.