This includes the creation of a nuisance by the tenant where his or her conduct constitutes a danger to the health and safety of others or who engages in criminal activity on the premises”

Or should I wait until I have enough cash on hand for a down payment and try to use my HELOC more towards renovations to the unit or using it as a safety net?

You make structural engineers smile at keeping a nice fat safety margin in their dead load calcs. loooool. 

Because I only just started working, I figure that prioritizing cash flow will be safer than relying on appreciation for a property that barely cash flows. 

On the flipside, we wouldn't perform every little task that a tenant requests, we use our judgement with the tenants safety and comfort in mind and striking a balance between that and reasonable expense.

John Kavanagh, R-Fountain Hills, adds restrictions on the number of people allowed in a short-term or vacation rental property and would require the installation of security equipment, among other additional regulatory measures.https://www.azleg.gov/legtext/54leg/1R/bills/hb2672p.htm“REQUIRING THE INSTALLATION OF SAFETY AND MONITORING EQUIPMENT THAT MONITORS AND DETECTS THE LEVEL OF NOISE AND NUMBER OF OCCUPANTS ON THE PROPERTY AND THE TRANSMITTAL OF THAT INFORMATION TO THE PROPERTY OWNER OR MANAGER.”Uhmmmm… you mean like cameras?

Adding the tenant's mother on as a lease guarantor would definitely act as a safety net for you, in case your tenants ever default on their rent payment. 

I am trying to work with all the tentative sellers to get them to list ASAP (with safety still in mind) if they were interested in the next year or so.

Any thoughts from other newbies or experienced investors on how to prioritize these two important pieces?

The exit strategy is your safety net to minimize losses and protect you.