Also show what your policies and procedures are for showing and renting your properties out.

I would take it but just make sure you have a written policy and procedure for situations like this.

Return on equity on this property is not super great and I am debating either utilizing the equity with a HELOC to help flip houses or sell it and roll profits into a higher producing asset.

Go with them through every stage, from having notice prepared and posted, to filing for the court hearing, to being in the courtroom when they appear in front of the judge/magistrate (whatever they call the authority in your state).Ask the attorney or their assistant about any documents/procedures you don't understand. 

Purchase price: $244,000 Cash invested: $244,510 Nice income producing property in a growing area.

Look for a high producer, say 30-50 deals a year.

IE get on a top producers team for a few years.. make money as they hand you leads.. let their star power get you in the door.

Acquire in one producing assets as fast as you safely can

That will likely produce little result.

The issue is that the resident also has to follow certain onerous and strict procedures regarding all of their 'stuff' and furniture/bedding in order to rid of them.