I'M STUCK!! Need clarity to my vision!

[Nic Juncos]

I'm totally new to REI and need some guidance to my specific situation.

My wife and I own a 2 bedroom house in Adrian, MO we bought 4 years ago as a HUD house for $30K in cash. I'm getting close to finalizing the rehab with a new roof and gutters and I expect based on comps it will appraise for $100K. Ideally, we want to find a larger 3 bedroom home for our growing family.

I work for a remodeling company as a lead carpenter and did all the work myself (except roof/gutters). This is my value I can bring to my REI. That is, being able to do most work myself, although later I may transition to contracting more out after we have built up our investment home inventory.

My options:

1) Save until we can afford a 20% down payment on our next home to live in, move there and then attempt to BRRRR our first home. In other words, refinance to recapture our equity we have built assuming a refinance loan (75% of $100K) of $75K. Rent it for $900/month to cover refi loan and earn a small cash return. Take $75K and BRRRR again.

2) Stay in first home, unable to access built equity, all the while saving for a BRRRR. This option seems less risky but less lucrative too. However, I'm just not yet aware of all the options available to obtain a loan to even be able to BRRRR. Maybe I wouldn't have to fully save cash to start a BRRRR, but could borrow somewhere. HELOC? REFI? I just don't know yet what even makes since.

3) Save until we can afford a 20% down payment on our next home to live in, move there and then sell first home. This option gives us $100K and avoids capital gains tax since we have lived in it for more than 2 years. Take $100K and find a home to BRRRR. As I'm writing this, my gut tells me this would be the way to go, but I've gone back and forth on so many scenarios I just can't seem to get the clearest path in my head.

4) BP decides!! But seriously, I'm just needing more experienced minds to share your thoughts and ideas. I love this community and figured there was no better place to go to get the guidance I am seeking!

Thanks for anything you can offer!!