Very much like the formula the instructor gave the class in a COBOL programming exercise when I was in computer school.

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

However, i want to address placing a tenant.My market has a low vacancy rate.  

The rates will be lower and will allow you to maximize profits.

Was fortunate enough to lease for higher than expected rental rates.

The market is in a extreme state of flux due to interest rate volatility.

If you're comfortable living where you are, equity in your current property or your savings rate would be the two other ways to get your next one which is going to be much slower.

In this era of increased rates, obtaining properties that will produce a good return are harder to find and often involve quite a bit of work.  

Does anyone know of a calculator where I can plug in the additional yearly pay down along with the appreciation rate of my area? 

McKinney is thriving, but so are other parts of North Texas, and a broader perspective could reveal other great opportunities.Here’s what I’ve observed managing a significant number of rentals in the area:Bedrooms and Layouts:3-bed, 2-bath homes consistently attract the largest pool of tenants and have the highest occupancy rates.4-bedroom homes have grown in demand, especially with the rise of remote work, as tenants look for extra space to use as a home office.Square footage is less critical than number of beds and baths.Supply and Demand:McKinney’s growth is driving demand, but the quality of the location matters greatly.