Tenant feedback is that we're priced in line with other properties they've toured. 

https://www.chicagobusiness.com/commercial-real-es...A court-appointed receiver is taking another big step in his push to sell off a portfolio of local apartment buildings tied to an alleged Ponzi scheme.A broker has already lined up buyers that have agreed to pay a combined $7.7 million for six South Side multifamily properties owned by affiliates of EquityBuild, a Florida-based real estate firm accused last year by the Securities & Exchange Commission of running the Ponzi scheme, court documents show.Now, the receiver, Kevin Duff, is asking a judge for permission to put a dozen more EquityBuild properties—11 on the South Side and one in west suburban Maywood—up for sale.

One thing you seriously have to consider is whether the turnover/vacancy involved would have a big impact on your bottom line - for example does your property manager take 1/2 a month rent to find a new renter, how much would you spend in cleaning/paint/carpet/etc between tenants and if it is a cheaper property in the area, are your tenants going to maintain the property well? 

Or do you also have a line item for repairs specifically?

You then compare that to what the landlord has provided.This way, if there is a dispute down the line over how much security deposit they should get back, you have the tenants signature.

Should I use a home equity line of credit or an home equity loan to purchase a new rent home?

The tricks that Carl described, plus others I have seen, defy logic and sometimes walk the line of being legal - but they do sometimes manage to get past the policy of the day that the underwriter relies upon.

Bottom line, it will be done when it's done.

I am in south jersey and figure a 3-4 bedrm with 1-2 bath will rent for about 1500 in my area so that where I am getting my line of thought.

Got a LLC first then  a business checking account and line of credit all pretty quick and easy.