Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

But I agree fix the issues at hand, do some cosmetic upgrades (paint floor lighting kitchen and bath) and should be able to sell it for a profit

Owning a home is usually a bad investment plain and simple. 

I've changed 2 property managers in past 3 years and both treated the property as 'just a number' - so I decided to take it into my own hands and stay on top of repairs and tenant issues.Thanks.

But it's not that simple. 

If she can't find another suitable place, that makes me believe she is paying way under market, and unfortunately when you rent those kinds of places, they come with certain challenges, such as a "hands on" landlord.Another factor that was not pointed out yet on this thread, is that the LL is an owner-occupant. 

For me personally first hand knowledge of an area is absolutely vital. 

Now, I know the object is to keep expenses low and profit high, but could a few simple additions increase your bookings?

Speaking just as an investor, I still would shy away from a HELOC for the simple fact that I am not certain how quickly I could pay it off/down. 

The city will fine you if your lawn grows out of hand.