i'm in hopedale MA. i use rentredi for tenant payments. no complaints, simple, i like it. a BANK that also offers rent collection seems over the top to me. i'd rather keep using my small local bank. i also don't keep security deposits because the laws in MA re: how they can be used are so insane that i'd rather just not deal with it. 

Get written proof of rent payments for the units, and you could try to get tenant estoppels.

That includes their fees, the rent payment and any bills you may have. 

.- When do the payments start and endThis is a little tricky for some real estate investors to understand.

For a house hack with a first time buyer most will use a fha loan which allows for a 3.5-5% down payment.

You'll have to see if living with non-family renters is allowed in that apartment, but it is a way to get started - have others pay for your housing to save money and then rinse and repeat for a couple years. 

Does the heloc still account for the down payment?

Might help drive some business toward you but also show the municipality that you are taking an active role to help non clients make their STRs better for neighbors.

Is this for a house hack or non-owner occupant purchase?

You have no appreciation upside potential.I believe they haven’t missed a payment since they started in 2007 or 2008.