How to use equity from my own residence

[Cody Holt]

I own a small 2 bed/1 bath home on 40 acres 30 minutes north of KC. Been living here for 5 years and owned it for 3. Got it for a steal, so we have a lot of equity, but the house needs a lot of work. The original plan was to use the equity to build in a few years, but we were blessed with triplets so things got a lot tighter. Would like to keep the property for down the road, but realizing I might be better off to get a place in town with more space and try to turn this place into an investment property for the time being instead. It’s a gamble, but just looking for ideas from more seasoned real estate minds.