$350K in home equity credit....how would you invest it???

[Rob Estes]

So basically the title says it all. I have approx. $350,000 in home equity that I am looking to reinvest. I wanted to get suggestions from those of you with much more experience then I have. Right now, I have a rental single family home and the home I currently have. 

I was looking to go in one of three direction (and completely open to other possibilities). And would like to go the buy, hold and rent route I think at this point opposed to the "flipping". 

1) a multi-family unit. Currently looking at a 4 apt. building in that prince range

2) A Caribbean condo rental property. 

3) Buying 2 or 3 condos locally. 

Thanks for all your input and suggestions, 

Rob