HELOC Investing Strategy

[Ray Martinez]

Hey Everyone,

Quite a bit to unpack here but I'm in a bit of a cross roads on how I should approach using a HELOC.

scenario 1: Utilize to pay off Car Loans + 2nd Property down payment? ($100k) 

scenario 2: Accelerate mortgage strategy.

Which means I keep the current loans and hold off on the 2nd property.

Current Situation 

I have about $100-120k equity depending on the appraisal. 

My loan is currently in a FHA (2.5%) with MI $335/Month with 29 Years to go.

What would you decide?