I have a w2 job earning about 100k a year, with a good amount of capital and some equity on my home (since it’s on a 15 year).

Can I still count it as income?

Bay area could support that as most SFR landlords here are high earning techies.  

I have a salary and a good amount of real estate income.So far I encountered issues as my real estate NET income looks like $0 because of depreciation, and so the DTI looks inflated since I have the corresponding real estate debt.I am looking for 300k HELOC on $1.2M property with $660k mortgage at 3%. 

In order to past this SS test, your appraised market gross rental income at 75% has to be more/equal to your monthly mortgage payment (PITIA).

Based on my projections I assume I would earn a negative cash flow between $400-$1,000 annually lol. 

This is a business-purpose-only loan for real estate investors that allows you to use the projected rental income to qualify.

Then they’re well advised to work in the real estate industry to gain hands on experience and (hopefully) be able to save part of their earnings to have some capital to invest.  

.; rent medians and lower and upper bounds, typical days on market before securing a tenant, local vacancy rates, tenants' typical income, education level, employment opportunities, credit, and rental history).

This is ordinary income plus social security and maybe state income tax.