Money + no job probably equals wild card you want to stay away from because they are a flaky type, or it means you're dealing with someone who isn't living paycheck to paycheck - obviously a good thing!

It is wrong to assume you will have that income just "to make numbers easier" even if you expect to rent after 1 year, because the number it projects is wrong.2) A seller assist of $6,000 does not equal closing costs.

I'm assuming the payment would be about equal given the conventional loan would have a slightly higher rate %.

After missing this date, Sherman began taking fees out equal to 1% of the total loan periodically (1% on each fee!). 

I had to go to the board of appeal and equalization meeting that took place in May.

So, in that example, if you pull $50,000 out, you now have the $50k from your 1st lien and the $50k from your new HELOC equals $100,000 of debt service which is around $550/month Payment and Interest  plus your Taxes and Insurance. 

It's unlikely that the rent on one larger unit will equal what you could get for two smaller units.

Also, this process, on any platform, ensures you are treating everyone equally and helps make sure you do not open yourself up to a discrimination lawsuit.

The same landlords that let there emotions influence their business decisions are the same ones who lose their crap when things go side ways.Not allowing your emotions to interfere with your business is EXPECTED and it ensures that all your tenants are treated equally and not subject to the whims of your “feelings.”

The tenants if al things are equal could just move down the road and leave your property.If however this is one of the last few remaining properties in the area that has not been converted away from landlord paid utility then it might work out well as the tenants for the area are conditioned to it.