Again, this is a conversation to have with your accountant to ensure the benefits would outweigh the costs.Another misconception is that there is little value in a cost segregation study for properties that do not have a lot of personal property in them or very little interior build out, such as industrial warehouses.

You will have to pay higher personal income tax rate, versus waitingtill after one year for lower Capital gain tax rates.

If you are experienced, how important do you think it is to know a deal killer? 

Either way, $600 in cash flow should actually help your personal DTI if you go for conventional financing on a primary again. 

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.

And I don't think they're taking applications yet, but you'll likely have to apply in person.

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.To negotiate the deal, I started by understanding the seller’s priorities.

They have strong financial stability, excellent credit, and are experienced homeowners.

If I used the HELOC, the investment needs to generate >9%.I recognize there are many variables not listed here but would love to hear from more experienced investors on more generally how you think about using cash vs. home equity to grow your portfolio in the current environment. 

I personally am not investing at the moment.