Make sure you get a tenant estoppel from the tenant ( this clarifies who pays what utilities) and you can create a lease with the tenant prior to closing just to get something on paper, if the other side isn't interested in doing this I would be weary of moving forward.

Hopefully, you can see if they are financial occupants vs physical occupants (non-payers), the turn over expenses, the maintenance the building requires based on the mechanicals, who is paying the utilities, etc. 

Renting to market: $1250Tax $89.00 Insurance $136.00 Utilities $- HOA $58.00 Lawn $- Vacancy $100.00 Repair $50.00 CapEx $100.00 Property Manager $125.00 PMI $- Mortgage $588.00  Total Expense $1,146.00  Cash Flow $4.00 Annual CF $48.00 NOI $7,104.00 COC ROI0.12% Cap Rate5.07%My estimation.

Best thing to do is call the utility company and make sure they are in your name and ask them if they can transfer the balance from the date of move-in to your account. 

Utilizing credit as you apply for a mortgage sounds like trouble.With your cash you will still have the Heloc for liquidity. 

@David Johnson I am in Broward also and was searching for months for local branches to utilize for a HELOC.

New flooring, cabinets, tops, appliances, furniture & finishes, added washer dryer, new utility service, tile drain, paver sidewalk, and more!

You also want to be careful about outstanding rent/damages/utilities when the term does end. 

The utility company will help work out the BE point.

Review and re-negotiate utilitiesAnalyze insurance policiesFind new tenants such as 5G Rooftop LeasingDiscuss loan payment deferral options with lendersRepurpose all or a portion of your building / propertyExtend tax returns to SeptemberAppeal increases in property taxes or negotiate lowering or deferring payments for current property taxesAssist current tenants and educate them on funding programs available to themRefinance any existing loansSearch for new income sourcesDiscuss deferral of insurance payments or partial payments with your insurance providerResearch Funding Assistance in the Chambers of Commerce guidesDefer the employer’s share of Social Security payroll taxTake advantage of higher interest deductions Utilize active lossesApply cost segregation utilizing the new CARES tax laws and amend up to 5 years of previous tax returns to potentially receive refundsI hope these tips were helpful and if you have any questions at all, feel free to reach out!