$300,000 in equity, $55,000 a year in rental income, $50,000 in savings.

My question is whether I should pull the $180K increase in equity out of the first property (which I can do using a HELOC on the investment property) to finance the downpayment of a second property, and if I do, how to treat that in my analysis. 

Not because you did something wrong but because it looks bad in equities if you take a property from someone and then carry it subject to.

I've read many many many articles speaking to acquisition fees, and management fees, and built in equity percentage just because.

Got interested in real estate after I realized I made more in equity this year than working 40+ hour weeks in my profession!

The house is going to fall in value and the cash flow is going to go negative on you and when it goes negative on you you're going to be at a loss in equity and cash flow.

Currently over $200k in equity in the property and I would only look to secure $100k or less because of market right now.

We would be getting about 200k in equity and would use up to half for BRRR or flip. 

Sold in 2019 and gained 80,000 in equity.

It will leave us with about $250k in equity with our $120k investment.