I know the negotiation style of various agents and how to work with that to get you the best deal.

But there are plenty of people who use a commercial style of a loan and get money back right away. 

If heloc is the way to go, will i be getting a "credit card" style of fund that i can then tender as down payment on the next house?

Receiving a "commercial" or "portfolio" style loan would free up those loans but it will be a very different style of a loan. 

At the end of the day, it’s your investment style, no investment is risk free.

As a security (as opposed to real estate) investment option there are different suitability issues to take into consideration. 

In any case, I go shopping for light bulbs and now see the "used to be" efficient is no longer efficient but this newer LED bulb is and the older style I was buying is no longer available in the quantities because they are pushing this new LED. 

Centrally located and about a quarter mile from a massive student housing complex(condominium style residences).Hope this answered all your questions!

It currently cash flows $200.00/month, but that is without a mortgage(it's paid off).I'm wondering if I could 1035 Exchange it with a more suitable property.

The same neighborhood currently has 4 similar style remodeled homes for sale for 90,000+/-5,000.