Sell out and go big?

[Tom Shelby]

So I own two 3 family properties that i currently have about 200k and 150k in equity in and I'm trying to decide what is the best step to take next.  I have a few ideas...

1. Sell both properties to yank out the equity and put down on a 30 unit in the 1.2 to 1.6M range (my credit isn't perfect, have a discharged ch.13 bankruptcy)

2. Sell property A to capture the 200,000 in equity and pay off the remaining balance on property B (current balance on property B is 207,000) Then set up a HELOC on property B to access up to 80% of the approximate 350,000 current valuation. This HELOC could then be used to purchase additional property

3. Another wrinkle in the mix is that I need to purchase a single family for personal use. By using sale proceeds from A to pay off B, I have been told I could then qualify now for an FHA loan as opposed to having to wait 2-4 years past bankruptcy discharge for a conventional mortgage. Given the whole Ch.13 BK situation I don't know if I could get a million dollar commercial apartment loan yet or not either.

Thanks in advance for your thoughts and ideas