Single Family Residence with Equity. Heloc Refi of Sell

[Robert Blair]

I have a single family residence that I am looking to convert into a tri plex. I have 3 ideas to do this with zero out of pocket money. I owe $115,000 it appraises now at $330,000. Here are my ideas…… should I get a Heloc to fund the upgrades, refinance to pull cash out for this and other deals, or sell to my life partner (unmarried) very good credit. If I sell could she look at at 203k? That also removes an FHA off of my credit. Your thoughts.