Is it foolish to consider using the HELOC for the down payment?

You should find out what percentage of the rent is being paid by S8 and by the tenant.Tenants have to sign the rent increase and some won't because they don't want their payment portion increasing.It's also highly unlikely a S8 office will approve the huge increase from $797 to $1300.- BTW: the $1300 includes all utilities being paid by the landlord.

Come up with terms (Down Payment, Interest Rate, and Amortization Schedule) such as a 5% Down Payment, a 6% Interest Rate, and 30 Year Amortization Schedule.

Some special assessments are already board-approved for 2025 and 2026 to help raise capital for such items, however I know when the time comes there will be a loan which likely demands a higher monthly payment for owners -- reducing my cashflow. - Based on sale of other units in the complex, I believe my current equity to be roughly $160,000, a little more than 50% equity. - The condo is currently leased through April 30, 2025. - August 2025 will be 3 years since I moved out.

Doing this would allow me to cut my down payments in half. 

Gave me the monthly payment and I checked it against a mortgage calculator and it's exactly what that said. 

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There are loan programs that will do a 20% down payment with a 680 or above credit score. 

I do have equity built up in my home, but I don't want to be saddled with yet another payment.

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.