I have the opportunity to pick up a property in a very nice section of Vegas with approx $80k in equity.

Loan paydown on a $100k loan isn't nothing, but it's secondary in my mind to cashflow and built in equity in this situation. 

I understand many folks have much if not all of their net worth tied up in equity in their personal resi.just hate to see one tap that equity buy a bummer property .. and create a mess for themselves.that happened a TON in the years leading to the great 08 crash..

Thank you BobLance see my post above about my 2008 purchase that has gained over $4000 a month in equity. 

We'd like to get a HELOC to be able to have money to put down with a HML in order to be able to purchase a property to fix and flip.We have about $150k in equity in our personal home. 

Not sure I would have the cash to pay out the work and turn cash profit, sure I still gained 30k in equity but that doesn't pay my hourly workers, (nor my 90k/yr family expenses).         

Some have more than $1 million in equity while others have less.4.

Bob Nicholls and Monarch, last I heard, was able to raise north of 80mm in equity in 30 minutes for a recent deal.  

Well, congratulations you gained an additional $15k in equity / wealth.

This deal looks like a split in equity only, did you partner not expect an interest on the investment during the project timeline?