Ready to invest, whats the best way to capitalize on my situation

[James Whitehead]

Im ready to make the plunge!

First post, apologies if I ramble...

Just came home after a year in the middle east trying to get a head a bit, after tax season we have a decent little egg in the bank, in addition to that the home we live in has a bit over 100k in equity we can take advantage of. 

So my question is really this, should I purchase a second home and rent out the one we own so that I can do a cash out refinance? our mortgage is 1k and rent in our area is avg, 1600 a month. We have been researching and heavily interested in purchasing a STR in the Smokies. Or should I consider a HELOC on the equity we have and not purchase a 2nd home.

Another question I have as I am about to go start talking to banks and loan officers and see who is interested in my business, what questions should I ask loan officers with these goals in mind?

I have been researching, listening to hours and hours of the podcast, as well as reading books from bigger pockets, im hoping that through the forums I can meet other like minded people and maybe even find a mentor that understands my goals.

For everyone that takes the time to read this thank you and I look forward to hearing your responses!