A helix is not terribly hard to construct but it takes up a lot of space. I have a large double track helix on my layout. The key thing to think about is you maximum grade and your minimum clearance. You have to include the thickness of the sub-roadbed and roadbed in your calculations. For example:
If you are using 1/2" plywood plus 1/2" of homsote for roadbed plus 3" minimum clearance you have a requirement to climb 4" before you crossover on top of the track again. Assuming a 2.25% maximum grade we can then calculate the minimum radius of the helix. First, with a 2.25% grade we can climb 4" in approximately 178" (4" / .0225). Note: This does not allow for any transition to the new grade. Plugging 178" into our circle formula gives us a minimum radius of 28.33" ((178/3.1415)/2). You will need to increase this minimum radius a little to address the transitions and also to allow for scenery and clearances. But basicly, you can see that you are going to eat up 5 feet of space.
Here is a picture of my helix. To gain extra space and reduce the grade, my helix isn't circular. It has varying diameters and some straight track.