Rough math would show us getting about 135k after the sell and if we put that to our 2nd house or invested it, I think the returns would be pretty similar to keeping it and having to deal with the rental problems. 

Easy math.

After a year living rent free I could have some money saved up again but still won’t be enough to buy a fixer upper outright and BRRRR (Without doing the math) and I wouldn’t be able to qualify for another FHA loan presumably.

The math ain't looking good for this country.  

do the math on how long until you recoup that down payment.not trying to be discouraging, just trying to be realistic.

You definitely need to do homework on local restrictions.

Simple math really.It just has to make sense and to Gino's point, as long as the numbers work and you can pay back the HELOC, why the heck wouldn't you.To Greg's point, buy the asset and then stabilize it. 

I just joined bigger pockets to start doing my homework on investing.

I was simply using the example that the spreadsheet math often works within the context that many BP investors have seen (myself included in my REI investing journey).

There are specific math formulas to know here.