So maybe consider a 1031 tax exchange to avoid paying taxes on the sale and look into purchasing a small to medium sized apartment complex that will bring in more cashflowEx: A 30 unit complex ($50k per unit) with average rent of 600-800 (random, but common) would GROSS $18,000-$24,000 monthly..... so I know this is just a very generic example but it gives you the idea..... obviously a lot of other variables to consider when analyzing a multi family deals 

I know this can vary greatly depending on where the units are, what state, taxes, expenses and many other variables, which is why I’m asking or a very rough estimate/general educated assumption of what kind of profit I could potentially see from this.  

We have also entertained the idea of a HELOC, but with the interest rates being variable, I believe that if interest rates increase drastically (which I believe will happen over the next few years), that may not be our best option. 

I understand that there are many variables that come into play and dependent on the specific property at hand and a one size fits all approach isn't what I'm getting at.

The cost also should go down with the elevation certificate as well.My loan is 4.75% for 5 years then variable after 5 years based on a 20 year amortization or I could do 7 years same deal at 5.35%. 

You really need to nail down a LOT of variables before anyone can advise on a sweet spot!

Keep in mind it will be a 12 yr variable with a balloon payment due but that's not bad at all even if rates increase. 

But there are way more variables and you need to run them by the permitting bureaucrats at the 4th avenue building.

Other variables include your local NAR chapter dues, MLS dues.

IMO, there are two distinct advantages to REI: 1) it's a local market, meaning situations vary from town to town depending on many variables that are not simple to quantify using 'national averages'; and 2) it's an inefficient market, unlike, say, the stock market.The economics of the pond I swim in are driven by a growing university system and a growing regional medical center.