A HELOC could help temporarily if you plan to payoff the balance quickly and are planning to save on monthly payments in the short term.  

The mistake you are making is it looks like you think you can use the number on the HUD website as your rent amount. 

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Recently Trump has announced the nomination of Scott Turner to be the new Secretary of the Dept of Housing and Urban Development, HUD.

Bird dogging is a way to make money but its not gonna get you rich.WE have had many do some birddogging for us on the private lending side to find qualified people that need a loan and its interesting how many last a few weeks - I sense the same holds true for real estate bird dogs.

Im currently in the process of building the team and I'm getting ready to make several trips to the area.

Thank you very much for the thoughtful response Dennis! 

The easiest way to get around this is to figure out how much the property would cash flow using the "rental property calculator." 

Hi All, my names Josh, I'm a kiwi living in the UK building the portfolio with a unique business model which brings into other investors into a compoinding model with both Capital and perpetual returns.i have a well developed process and network here in the UK and New Zealand, wanting to explore the US market.

But the rules of the 1031 exchange will let you accomplish what you want without doing that too.