I barely glance at the proforma because you'll never get 100% occupancy at full market rent for any extended period of time, its simply unrealistic. 

Your monthly payment will barely change. 

@Dave Foster, barely related question... is it possible to use the 1031 exchange when flipping? 

A heloc is a possible option but it sounds like your mortgage is just barely paid for so adding an additional expense from a heloc might not be ideal, unless you can ensure the next spot you buy covers the mortgage and the cost of the heloc each month. 

Lots of people chasing cashflow buy cheap properties that look good on paper but real life barely cash flow after all the tenant issues, expenses, etc.

If you do not have the cash to put down and the reserves you could always raise the money for my private investor or investors and or ask for owner financing or for the owner to participate in the deal. 

You'll need to talk to a professional or two on how to do a mixed taxed return when it comes time to sell.To qualify for active participation, you need to spend more than half your time on real estate. 

After debt service this would leave about $43,000/year for distributions or annualized 5.375% cash return (assuming improbably that the passive investors who participated in the raise get all of the cash and no promote/fees/etc).    

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

I would love to participate