In fact, if she loses her job, section 8 covers an even greater portion of her rent!

And losing your own money is a lot less painful than losing an investor's money.Now onto what you want to do. 

Looking at the bigger picture, many small businesses are in danger of closing up, millions losing their jobs, and what you have is losing 30 days time, and possibly a months rent.I remember I evicted a tenant some years ago, the court gave him time.

If you get 1 month rent plus 1.5 months security deposit, even if your new tenant loses their job immediately, you should be OK. 

or should they sell the house and lose the potential is has to be a rental itself? 

Plus you will lose months of rent, so again how much if anything are you actually saving, answer  nothing. , 10 -14% net caps are to be had headache free  .

2) What if I lose my W2 job (very strong possibility in this economy ) and with my disability its gonna be almost impossible to get a job (please dont lecture about disability rights lol)3)If I dont miss a payment on my HELOC because the units are not rented out right away wouldn't I be jeopardizing my primary residence that I own free and clear and stress free right now?

If you have submitted earnest money, expect to lose that money, thats your motivation to continue with the deal.

You'll lose all credibility.Most small MFR properties don't have house electric for exterior lights, etc.

@David Goler are you losing money do to non paying tenants that lost their job ?