With high equity, sell or HELOC?

[Matthew K.]

I just recently moved into a new house and have my old house on the market. I'm hoping the brilliant Bigger Pocket members have some ideas/answers/feedback. Here's the deal. If I rent the property, I will likely cashflow about $300 per month. That's not including any reserves, that's simply projected rent minus my PITI. If I sell, I should get into the six figures after commissions are paid and note is paid off, but property values in the area are still climbing. With that money, we were going to finally start investing seriously into real estate. Is it possible to get the best of both worlds? Get a sizeable HELOC to start investing while renting the property and cashflowing about $300 per month? Or is it best to just keep it on the market, get my eventual payout, and move on to the next property?