Outline where you want to be in five years.

Do you think the contract ought to be in the purchase offer between me and the seller, or do you think I should not mention it in the purchase offer and have a separate contract between us that outlines the deal?

Many do not realize that there can be criminal penalties for writing bad checks as outlined in the attached:http://www.ckfraud.org/penalties.htmlGail

This particular property has those issues I outlined that might lead me to selling it and replacing it with an easier property.

Is it more complicated than what I outlined?  

I think it can be done, I just want to be sure I've put some thought into it first and outlined my companies values before engaging.  

I would send an email outlining my plan and I would market the property, if a qualified person came along I'd rent the place and do the inspections, pay the fee etc when the municipality can handle it.

I’m researching which makes more sense for me: Real Estate Investing (House Hacking and Investing in Multi-Family Rental Properties) or Starting an Online Business (Millionaire Fastlane style: search for a problem to solve and start a company around that).This video called How to Research Any Topic outlines a simple approach to help make informed decisions: https://www.youtube.com/watch?

Once you have your goals outlined you can determine what the best way to reach those goals are and how to best use your HELOC.

My reccomendation is to outline a realistic business plan in converting the 16 POHs over 12-18 months.