How can I redeploy the equity in my SFH rental bought with VA?

[Kevin Phu]

Looking for some advice or strategy on how I can I can redploy the equity in my VA loan rental.

Purchased in 2017 with 0% VA loan. Moved out a few years ago and it is a full on rental property. I owe about $428k at 2.25% in principal and if reappraised I believe it should come in around $600k based on recent sales.

Would a HELOC be a possible strategy? I'm not sure what the math would work out to be for how much I would be able to get. I'm admittedly under educated in that area.

I've considered selling but ultimately decided against it because it's cash flowing and in an area that I expect will continue to appreciate greatly in the coming years.

Been spinning my tires on REI and I really want to gain some traction and purchase more properties out of state, preferably in the south/Midwest.