@Brandon Stevenson To take equity out of your home, do it with a HELOC and you can put that money towards your next property, hopefully an investment property. Putting it into a new personal home wouldn't be in your best interest. You want your investment property to pay for your personal residence.
For your current home, to turn it into income producing, think of AirBnb, is it common in your area, usually cities or near downtown are best for short term rentals. Monthly rentals, you could rent out your basement, a bedroom, or your entire house to a tenant. A bedroom probably isn't a option for you right now since your family and it's your personal home.
BRRRR is an amazing strategy of recycling your money over and over again, improving the value of each property you rehab. Thus, you can only really BRRRR your currently property if it's somewhat of a fixer upper. I'm sure your home is in good shape.
What I would do, since Indiana, especially, Indianapolis and other larger areas of IN, are great locations for finding a discounted/distressed (fixer upper)/OFF-MARKET property you can get from an owner in need (the house is a burden for them). You can get your investment properties that way, super easy too. I'm a wholesaler in Columbus, OH and I can help you, just send me a message. Target distressed sellers only, not tired landlords/absentee owners which everyone tells you to. Waste of time. Go after tax delinquents/code violations/vacant properties, things like that.
Thus, buy a property with cash, anywhere between 5-25k/40, something like that, for your first one (less risk to start), then you can use private money (family member, investor you meet at networking event, etc.) to rehab it, then you get your money, they get theirs, you have a BRRRR property, and then you look for the next one.