Pull equity from home or self or profit

[Justin Tomsic]

Hey guys just a little background, I'm a first time owner, I've had my home for almost 2 years I refinanced recently to cut out PMI and lower interest rate 1%. Now that I'm coming up on 2 years and not having to pay capital gains from selling my wife and I are not sure which route to take in order to take advantage of the market. Right now our home is worth $400-420k and we bought it for 250k refinancing out us at 254k.

If we were to sell our home I want to park the cash into an account that will pay me 12% APR interest until it's a better time to buy. However we'd probably be downsizing to a 5th wheel temporarily on a family members property with a baby and 2 dogs.

I don’t know much about refinancing to pull equity from the home but I like the thought of being able to do that and keep the house and potentially put the cash into that same account paying 12% and waiting for market to cool down. If I was able to cash out refinance how much of the equity do you think I could get based on the numbers above? Thanks a lot guys if I’m leaving out any details let me know! I’m still a rookie here at bigger pockets, I want to eventually own a portfolio of properties and I believe either of these routes could get me there but selling and downsizing significantly would be rough. Thanks!