You cannot just plug a percentage value in here in Cook County.

I'm trying to weigh out the pros & cons of either selling the home, or Refi/HELOC'ing it and renting it out, as appreciation is just so juicy in this middle-class neighborhood in LA. 

The education (books, podcasts, classes, forum posts, 100 property analysis, driving for dollars) is done at this point.

Find a location that works for you and meets whatever criteria you set (cash flow, asset class, tenant class, future appreciation, etc.)

I'm looking to buy houses with a big enough profit margin to make it worth while, currently i have about 95k liquid and 45-50k in assets and would love to know anyone's thoughts if they were in my area and in my shoes.   1.What areas to stay away from and why in LI,NYC,NJ. 2.What a basic flip costs using meaning lets say a full rehab or at least getting a close enough ball park figure to make a close to correct offer. 3.What an appropriate price per sq foot would be in the middle class areas of NJ,NY,Li. 4.

I have read to attend local real estate events, classes and the blog post here on Bigger Pockets.

Breaking the One Percent Rule isn’t uncommon in either of these areas and can be applied as a baseline in situations where immense appreciation isn’t expected in B-C class neighborhoods.

On the other hand, you have multifamily units that thrive in lower to the middle-class area.

I look for a firm that not only specializes in Commerical leasing & sales, but also specializes in the particular asset class within Commerical real estate.

I would recommend taking a sales comparison approach class online (Appraisal Institute).