Please help reallocating $165k equity

[Javier G.]

Good morning BP members!

I own a free and clear Townhouse (165K) in Miami, rented at $1,450 and cash flowing great BUT, as a preventive action, I'd like to move the equity to a different investment without HOA. I heard horror stories about HOA changing CC&R's against rentals. It's not the case right now, but I thought it would be a good idea to make a move now that is a seller's market.

I will appreciate some ideas and recommendations. I know my question is extremely open and probably, there are tons of options, but since my expertise in RE is very limited, I've no idea where to start. Any feedback will be highly appreciated. 

Thank you! Javier

[Scott Morongell]

@Javier G. put it into a multifamily asset and create scale for yourself. scale=protection