It seems to break even on my calculator at that point, but seems risky to have to cover the refinanced mortgage. 

. - I'm quite familiar with that area of Huntsville, and just took a look at your listing online. 

Check out other online guides available here: https://www.biggerpockets.com/guides3.

Most likely when you apply for HELOC, your lender will pay for all costs, and you will not incur any out of pocket costs.If you want to do a "Cash-Out Refinancing", I think this is when you have to really plan things.

After paying off any existing loans, whatever remains from that $140K is what you can “cash out” and put in your pocket.For example:ARV: $175K80% of ARV: $140KExisting loan: $100KCash-out: $40KYou could pocket the entire $140K if there's no existing loan.Decide between refinancing or selling based on whether you want to keep the property, use the equity for another investment, or take the profit and move on.

Assuming your financial situation hasn't changed, if you are refinancing to a lower rate, I'm not sure why you need the house hacking income.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

Online platforms, industry conferences, and networking events are excellent sources for discovering new sponsors.

I saw a bit online that stated it could be worth it in some states, but not others. 

I keep hearing about the rent to retirement company so I watched their online video.