Flip n hold my own house?

[Efrain Torrez]

So we owe $48k on our primary home. I've got $50k in capital to work with. It's a 3x2 but if I remodel the place I can add an extra room after I redistribute the space correctly by changing the layout of the house. So 4x2 at the end with an ARV of about $190k possibly $210-$220k. I'm getting anywhere from $30k to $50k on estimates from contractors. I want to do the remodel then pull the equity or get a heloc so I can start investing. Good ideal? Why yes/no?