If I were to put up the entire $40k my ROI would be around 7%.In your market have you seen $200 cash flow combined with a ROI of at least 10%? 

Then combine that with all the factors of a good rental investment property???... 

Combining the your cash with your HELOC could allow you to make a larger than normal investment that should theoretically make more than the interest rate on any of your loans. 

That being said, if you buy a 2-4 family unit and plan to live in one unit, you can take advantage of the 203K.The 203K combines the purchase and repair funds, but you still need to have 3.5% down payment and money for the closing costs.Any time you purchase a property from a motivated seller, you can take advantage of that opportunity to purchase it for less than market value, which is why distressed properties are popular with investors.

Combine the replacement cost and the usable lifespan to calculate $/mo for each of those items.

Your plan has to be unique to you and your particular situation, but the one thing that every HML requires is an exit strategy.  

It's also very unique on the inside with some very cool architectural and modern updates.

Its all depend on interest, interest make you unique and give power to work hard.

Just depends, yours is a unique version.

That new plan might combine both property & general liability.