Navy Federal 5/5 ARM at 4% zero down payment, made $4,800 at closing.

Upon top of that, federal income tax.- What new type of insurance will I need?

These detailed records, (many copies of which had to be scanned & emailed to them), saved us from any 'taxable consequences'. 

Check out Tennessee Valley Federal Credit Union in Chattanooga for a HELOC.

On 4 it is $12,000/year.  3.3% depreciation is similar numbers - usually almost eliminating all your taxable income from financed properties after repairs and maintenance is factored in. 

Depreciation allows you to spread out the expense of assets over several years, reducing taxable income each year.If you need further clarification, financing for your projects, or just have more questions please feel free to reach out to me directly.

Withdrawal Scenarios:Scenario 1: Withdraw everything today at age 40, resulting in a 35% loss to penalties and taxes.Based on the little information, I think you are under-estimated how much taxes / penalties will be taken out.Your profile mentions you are a resident of Brooklyn which is located in NYC.NYS / NYC taxes is taxed at around 10%+ for middle income earnersPenalty is 10% at the federal levelFederal taxes for middle income earners is 24%Given the 3 numbers of 24% + 10% + 10%, you are closer to 44% instead of 35%If you are above a middle income earner, the tax rates can behigher.With that said, I took out all my retirement income and put it in real estate.

The current C/D is a mandatory form under state and federal law (every state).So, until states and federal regulators mandate forms for private/hm lenders, you won't see it.

Based on only the facts and circumstances listed above and if it meets the 2 out of 5 year test, it will be considered under the $250,000 income threshold and non-taxable.

I set aside almost $96K in federal and local taxes, and I needed have to do another complete rehab if I kept the property.My conclusion, at some point, it's worth it to sell.