But something is bothering me and i wanted to see if any would like to comment on it and see if my decision is correct.

@Joseph Parker  Correct. 

What would be the correct way to go about a new contract, and any other advice about house Hacking ext...

I'm confused by some of the stuff I've read that if I don't give it to them the notice by the 1st of the month, and since I will be giving them the notice essentially on the 12th that I will need to give them until the end of next month so until October 31st, is that correct? 

I don’t know how I just copied your reply, anyway I’m out here in katy and I was wonder if you knew of a good local REI I could attend.

Yes you are correct in that I do not want to create another job for myself. 

If I buy a property built before a certain year that currently has tenants in it, I cannot raise there current rents beyond the allowable increase for the year(3%-4%)  I would have to wait until any of the units becomes vacant to raise rents to current rent rates.Is this correct so far? 

If you are concerned that they took a snap-shot during that time when the HELOC money was paying off the credit card and can't wait till their next snap-shot, you can write to each of the agencies and submit proof and they really are good (in my experience) with correcting those things.

You also live in this community, correct?

Please correct me if I'm wrong, I am not a native there.