I completed some online applications one came back unlikely because of experience and others would require around 15k cash. 

If whomever mom called in reports a ghost resides there tell your tenants you will need to increase the rent based on additional occupants.Seriously, I've had applicants ask me if previous owners passed away in the house they are viewing.  

What specifically is the application ?

That the bank won't go for it - "it" being the HELOC idea - when used for commercial purposes and an investment entity rather than a family estate planning type of scenario.Equity loans made to commercial entities - can you throw out a few products that would potentially be applicable?

To answer question number one about tenant screening vs. discrimination...You have a right and it is in your best interest to set up objective screening criteria and to discriminate among applicants to find the best tenant for your property.

You can send me the lease application , to enable me to review it ahead of time.

Our application process and procedures are clearly written out and all of our renting evidence is clearly showing no racial discrimination what so ever.  

Tonight a tenant applicant accused me of discrimination.

I have a unit for rent and I have a no pet policy.One applicant called and said she has one of those really small dogs - you know, those they put in purses that looks more like a skinny rat?

Exciting stuff, let me share this with you, exotic strategies presented as if they are applicable to any deal, any time, with no or little money........it's the bait we see.And, no surprise, I just now visited your profile, low and behold, you're a coach and author of real estate books........guess I was right.Now, that isn't a bad thing at all, I also see you're a CPA, excellent!