I want to take a Heloc but always was scared of it...I want to open it just in case, sort of like if I lose my job, etc...1) Do I understand correctly, if I open a HELOC but do not borrow the money, then this I do not owe any payments to the mortgage company?

I would recommend doing a plex of sorts and rent out the other units.

I have virtually no experience but am extremely resourceful and motivated.

If over time you feel better about their transparency you won't have to look through the back up as critically.3) Require some sort of monthly report, if you don't already especially if managing remotely, that includes pictures.

Question 1: So let’s say, while wholesaling do you need to give verbiage of assignment when finding a motivated seller?

Or is a addict of some sort? 

I am looking for other motivated eager people interested in doing this.

Would have offered on two of the three I looked at if I had the private money/cash buy sorted out. 

What sort of agreement/commitment were they able to give you as far as response time?

Only once I let Tenants Rent month-by-month because they were buying a house but their rent was +$100 to their usual lease.The lease has 2-mo early termination fees in the first year and one month - second year of lease.Yes, I do get these fees sometimes but more important I get Tenants to show the property when they are still live their: because they are motivated to not pay the fees, their place is always in Showing condition.Month-by-month is the worst thing for me as landlord: I'm renting my properties for the top market price and don't want to compete with $675/mo when renting next door for $825.Stable tenants are my way of doing business.