The 15% tax hit is a one time expense, versus 4.3% is annual interest.

Pyment is $1,054, but $625 is interest.If you sold current house and bought new one with same mortgage amount, but current interest rate of 7%, the payment would be $1,663, interest amount $1,458.So, the interest cost difference would be $833 month!

If all in around $435k, wouldn't she need to leave money into this deal with a projected ARV at $500k?

What made you interested in investing in this type of deal?

I have 23 properties in Kenosha and earlier this year purchased two duplexes in Racine.

What do you think of my essentially 7-word answer? "It's like selling pizza by the slice".  Too simple? Just right? How would have you answered? 

Quote from @Blake Steagall: Hello @Jaycee Greene, I do not own any real estate in that market yet but am interested.  

What this leads to is higher purchase prices but also higher rents in these areas. 

The amount of equity I call pull is less than the cash I have but not significantly less.When doing this analysis it struck me that it may not be worth using a HELOC for the simple fact that the interest rate is ~9%* while the funds in my high yield account are only yielding ~5%*.

Chris, I can't seem to share a document on here to send you one of mine, but you can copy/paste the following template into a Word Document and create your own.