@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success. 

Said it was one of his tax clients & would not give me their name.

It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

In some cases interest paid on the HELOC can be tax deductible if the funds are used for home improvements.Best of luck from Fort Worth! 

Taxes are the $100, so about $290 a month expenses. $110 a month in cashflow.

Thanks again for your input, and I'll probably reach out as I get further along in the process.Hi @Edward Zachary Samperio, the regulations aren't that difficult and I'd be happy to give you a quick rundown about the density limits, hotel occupancy taxes, permitting, etc.

If your not ready to spend money on a software you can use tax records.

High taxes.

How much money, after expenses and taxes would he property make yearly?

Then purchase a Note, generate $250 - $300/mo tax free!