When the bust hit there was lots of inventory but banks immediately stopped lending.

Stop. its time to do research.

Only accept cash or a Cashier’s Check for credit checks and if you choose them as a tenant, make sure only cash or Cashiers Checks are acceptable, Otherwise they can stop payment on checks and money orders once they move in.

Wondering if its a good investment to re-enroll for another 6 months and get the package that includes access for the pre-licensing classes as well as the 90 hour post license class requirement. 

And worst case scenario, if that's wrong and the financial situation is great then, there's nothing that stops you from investing the $700K in a second property.  

If I pay cash I won't have access to the downpayment $$$ for the next property that I want to purchase, so I would NEED the HELOC.

They built it without a permit and enforcement compliance stopped operating the entire development. 

This is what bigger Pockets is for!!!!
I started building my own absentee list method about three years ago.. I started using local tax assessors in NC. I have had a contact rate of 16%. For example out of 1,000 dire...

There are regularly proposals almost non-stop to impose new STR rules. 

If that is the case a home equity line of credit may be a easier and cheaper option that will allow you access to those funds and greater flexibility.