Theres a home equity line of credit and a home equity loan.

Sell or purchase with contingencies that require the buyer/seller to cooperate with your search for a suitable replacement or to wait for your sales before scheduling closing.   

Let's say you did a Credit Check which was not good, but the tenant claims it's from an event like a divorce or student loans or a hack.The next thing I do is an Eviction and Criminal Background check and a Bank Statement Check to make sure that the prospective tenant is not pulling the wool over my eyes.Imagine that the prospective tenant has a rap sheet pages long and you decided that he looked honest enough and let him in.There are so many horror stories of bad tenants and yet I see posting from new Landlords all the time skipping a FULL due diligence Again and Again!

I'm in a neighborhood where some folks don't have the greatest credit.

Revolving Monthly Debts (Shown on Credit Report): $2.607.89Monthly Income: $8,378.83Monthly Mortgages for Current Properties: #1 $329.86 and #2 $927.67Rental Income: #1 $950.00 & #2 $1,300 (Estimated)

Both have 720+ credit scores.

If you have debt, student or credit, work at clearing all bad debt first and increase your credit score.Personal home owner ship is not a investment it is a liability so if you wish to invest concentrate on that first.

I just recently learned there is a difference and it has burned a few people looking to buy a first property.pre-qualification is based on the questions asked and information given to the broker/ loan officer usually via a quick phone conversation and is a quick credit check process to show qualification.pre-approval is more in-depth, meaning you sent tax returns and pay statements to them to verify all information you told them over the phone or in person. 

One thing every one got right, was my "credit has been trashed." 

I did pay a $1000 sewer bill that was owed b/c I was served by the courts and it was going to show up on my credit.