Advice needed to start investing in real estate

[Nicolas Nocera]

Greetings,

Thank you for taking the time to read this and for any advice given.

I am 35 years old, and paid off my primary residence here in Florida when I was 31. I put it in a trust, did some updates, and continue to live here. I currently hold a certification as a Florida Home Inspector, and believe in doing things right the first time. I'd rather spend a little extra, or take longer time to know things are done right. While I currently hold this state certification, I had a difficult time operating, networking, computing, marketing, inspecting, and running the business as I was just a one man show. I found it to be more than I could chew, so I decided to go back and use my degree to get back into hospitality management. I oversaw events, weddings, Corp meetings, holiday parties, ect. I was terminated from my employer, and with the way things are going what I did in hospitality, will take a very very long time to recover. I'm trying to use my time and current finances as best as possible. Now without a job I've been turned down for FHA and conventional financing. I also have what's called a thin credit file. I paid $58K for my home in 2014, I had to use a hard money lender because banks don't want to loan such a low amount, and after it was all said and done it only cost me $3K, so I'm into my home for a total purchase price out the door of $62K. Currently there is/was 3 homes on my street for sale this past month. A not so nice for $126K just sold, and a couple homes currently listed in either direction are $140-$150K. Rents in my area are currently about $1100/month.

I lost my job due to the coronavirus and have just been making improvements on my house to fill time.

What is the best use of my home?

Get a HELOC and use it to purchase a fix and flip?

Get a HELOC and use it to purchase a long term buy and hold, after gaining employment, use debt avalanche to pay off as quickly as possible.

Sell my house and use all the money to put 20% down on a million dollar 8 unit apartment building that already has a solid rental history?

Sell my house and hope try to finance the construction of a 4 plex?

Rent out my current home and go back to living with my parents for a couple years and hope for more appreciation?

Use hard money lender to purchase a "less expensive" multifamily home, or SFR, and house hack.

Maybe there is other things I’m not thinking of too. What are your thoughts, and opinions?

Thanks!