Purchasing second property options

[Chris Huang]

I'm looking to explore different options with purchasing my second home. I purchased a two family with my partner and his brother a few years ago and the three of us own the property. I am looking to move out of this property and use equity from this property to purchase a new residence. Because the ownership is between the three of us, I'm reluctant with this strategy because if my partner and I take out a HELOC then his brother will be unable to tap into the equity. We could take out more equity so that the brother can tap in if necessary at a later time however I think the repayment becomes quite complicated. Does anyone have insight into this? Secondly, there is the option of using a FHA loan. Any thoughts here would be greatly appreciated!