HELOC or sell and move to invest in STR

[Ken Simms]

Hello all. This is my first post on here and I had a few questions on investing in STR's. We currently own our home ($700k value, we owe $45k) and have one LTR ($450k value, owe $100k) which we get about $1800 a month on. This rental is in a town that has very strict policies on the number of STR's, so for the moment it will stay a LTR. We have been toying with the idea of either using a HELOC on our home to invest in STR's across the country or selling our main house and buying a lesser priced house and investing the rest into these rentals. I am very handy and can do most rehab work myself, so buying fixer uppers would probably be the way we'd go. I also have had good success in buying and selling homes and would like to see where this can take me as my main source of income.

Any tips or scenarios for our situation would be very helpful in our quest into real estate investment. Thank you!