Selling primary to invest

[Nathan Ruffrage]

Greetings. 
Looking for general investment property strategy advice. I left a teaching career a year ago to be a full time investor and now looking at ways to grow the portfolio. I’m  middle aged with two young boys and a wife who is very supportive and currently working full time but wants to take a step back to part time. 

Current assets are- 

-Primary residence holding 300k equity. 
-One LTR has a HELOC of 135k available and rent is 1750 a month.
-One STR with 80k mortgage and generated 25k gross last year.
-One flip (possible hold) in progress using LTR Heloc for the financing. Will asses when completed in 8 weeks on which direction to go. Speculative growth in that area may lead to holding for a little while. 

We decided to cash out on our primary and we are under contract to sell end of month  ( still could back out) which will net 307k. We have given our tenant notice we will be moving back to the LTR which was once our primary 5 years ago.    

Our current plan is to take the the proceeds and funnel those into more investments . Looking at higher end STR.

Thoughts opinions are welcome here. Thanks! 

[Nathan Ruffrage]

Quote from @Drew Sygit:

Why wouldn't you cashout refi your current home, then turn into STR and go buy another primary wth 20% down?

Great question. It’s a big house. My opinion is smaller is often better for STR. Its also in a area where we already own homes. 

Our STR strategy is to own properties where we like to visit and spend time. When or if retirement happens those properties will be there for us to enjoy.