Yes, those are both pieces you need. 50ft is very excessive to me, I have never done more than like 10 ft.

It also gives you a breather delay should they request anything, you can simply let them know you will check with the owner and get back to them.2 - I have found in several jurisdictions that the courts will often side with the tenant over the landlord whenever possible (though this has improved in recent years die to excessive abuse by tenants), Many times it is difficult to collect late fees and security for damages even when the  lease violation or default is proven.

I also used excess monthly fund from my day job to hack away at the HELOC as well.

Now  the reality is this works were there are lower price points so that price to rents work for a 6 to 10% COC return with 20% down or so. not all areas of the country does this work.. we all know that and not all neighborhoods work.. so they must work in markets that has excess SFR inventory that home owners are not buying in those areas .. if home owners want to live in those areas there would be no need to sell to investor make more money selling to homeowners..IE retail flippers who we see all over BP with their success stories.. they are not selling to investors..  

I hope your ARV was excessively conservative because then this deal at least would make more sense.Please keep us updated and tell us how things go.

30k is definitely excessive.

Is there excess houses andcm rental units?

Please wire me the excess ASAP." 

When we refinanced we dropped the excess coverage.  

If you consider that $7k an investment to increase the income by $2.4k annually, it is a solid return, but I would want to ensure that you aren't prematurely forcing a good tenant out by causing excess financial stress.