@Benjamin Seibert were you looking to flip or buy and hold?

You'll want to incorporate interest costs on the HELOC while you're using it, but that will add to your holding costs in addition to utilities, closing costs, etc..

Define your minimum cash-flow to hold this property. 

Since we hold our loans, their profit is the only way we get paid back.

If it's a long-term hold, removing the boiler can give you a huge NOI, so you should consider it... especially if you are already renovating!

They are for holding that property only - that money IS your cash flow. 

There are a couple opportunities thats on MLS currently, and I am crunching through my math and it seems to work out well (positive cash flow, decent cap rate).Some key assumptions I hope still holds true today:  low vacancy rate in general. ~1000-1200/month for a room in a single family house / duplex. 

@Frank HinckI’m trying to understand the cost of fees, interest, points, as well as holding cost associated to the deal.

@David RutledgeGreat move holding onto that 3% rate while leveraging your equity for another deal!

If you have that kind of money you should be closing deals, not wholesaling them.By the way, wholesaling is NOT investing, you're not holding the properties, your trading them.