There are a lot of variables involved so its hard to see unless you run the numbers especially since you might replace this home with 2-4 units and where the loans on those new properties would be at a higher rate.

You will also need this info for contact information, etc.Request in your offer a letter signed by both the seller and tenant agreeing on the current value of the security deposit.

I participated in an investment in a motel property under the Brand "Extend-a-Suites" in El Paso, TX. 

There are interrogatories, depositions, hearings, summary judgments, and on and on.

And then I would be depositing checks from my HELOC into my bank account and using that to pay of my credit card.

What is the going rice for new roof for 1500 sq feet house in Montgomery? 

If the oil runs out and results in damage to the system, the tenant will pay for the repair.I also recommend you be clear about this in your written lease for future renters.If there are repeated violations, terminate their lease and start with a new renter.

I am looking at establishing a new single-member LLC.

In my shoes I would want the stability of the cash flow and look to leverage as a long term rental through a PM.Some folks want to cash out and reinvest the new found equity in a higher producing asset. 

Im a former Marine and long time business owner but new to real estate investing.