If your primary goal is cash flow, more than likely you'll be in a Class D to Class B- asset.

ROI is not the primary motivating factor.

I have just gotten an appraisal on my primary home and am waiting the results although it should come in around 60000-70000 to use as HELOC.

Hopefully we sale that in a couple of months and we plan to pay off our primary residence and do a HELOC on it.

I would like to do a cash-out refinance on my primary residence in the Fishtown neighborhood of Philadelphia.

No difference for taxes - in fact you have more tax benefits with your primary than with your rentals.

. $220,000.My primary residence (Richmond) went up 13%, over $160,000.

Financing: We have less than six figures in equity in our primary property and we have retirement $ tied up in a 401K.

@James Roberts and any others reading, PenFed has great options (90% LTV on primary, 85% LTV on investment) for HELOCs, but they have a restriction - can't own more than 3 total properties, or you're disqualified.  

I have spoken with a few people I work with who have had primary residences that they have turned into rentals. 2 of the 3 have had major issues, one to include a marijuana grow in the basement.