So, when you say they not do report on your personal credit report I guess you are talking about non-recourse loans? 

There are new laws being implememented in some states as well.Hey Ken, I agree with you on people doing business the wrong way, just like in the creative side with people not properly disclosing how liable the seller is in a sub-to transaction.There are indeed people promoting a property instead of the contract, which they do not have the right to do so.

Ana,Based on experience and this market me personally I would avoid a HELOC for a few reasons.

My PM used to have a person who did the payments and every year around Feb, she'd send out an annual statement for your taxes showing how much you got in rent, spent in repairs and management fees. 

About to go under contract on mobile home community #2. 

It means an extra call/text for whoever is giving notice or letting the person in, but it will make sure it doesn't happen again.

I have personally seen subs who specialize in storm water management systems as well if that's something that is necessary.

Note ADU addition in a MF zoned area may be comped with a duplex but I personally think this is wrong as a SFH with ADU is not a duplex.- it is cheaper to buy a property with an existing ADU than adding one   In addition you would receive RE purchase financing.  

What happens if one of you decides to buy a personal home and need the credit to qualify for a new loan so needs to sell this one to make it happen, but the other partner not ready to sell yet, or doesn't want the capital gains. 

Lastly, our DTI is maxed out per every lender we've spoken to recently as all the properties are mortgaged in our personal name.