Again, it makes no sense. 

Good idea or no?

Typically max leverage is 70CLTV - very higher Prepayment penalties and be ready for rates north of 12% - I answer this question all the time.

If I can park the 388k ($415-27k) for one year at CD rate of 4.5% and then est 300k (after paying cap gain/depr recap) at 3.0% (assume CD rates lower) that interest income of about 24 months net of ordinary income tax is about the same as my current mortgage.Trying to play devil's advocate and think why selling this year does not make sense. 

One has no mortgage, their other has a HELOC for around $20k remaining and is coming to its 10year term that was established before placing with LLC.My predicament is how/best way to pull equity out of either property for a down payment for the 3 family that is valued around $450k.

Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k too much for the land unless your exit is 3 million. don't reinvent the wheel. no single family home builder is paying 300k for land. that's miami florida prices where I live. we buy land 50k and under in Columbus Ohio. keep land at less than 10% of after built value.

The weather can certainly suck in the winter but it's no different than most of the country.I have been saying I would move out of NY for years but it is home. 

No?

Don't get stuck in the analysis paralysis phase, it's no fun and you don't learn as much :) 

No way they froze both accounts with no explanation.