Could someone please advise an actionable step or game plan I can follow to tap into my equity correctly (if that makes sense here) whether that's HELOC, Cash-Out or another strategy?

Decide which game you want to play.

Quote from @Matt Tortora: Fair point - but I will be partnering with someone who has good MF experience.If you are partnering with someone with experience in the game, your value to the equation is not equal.

The profit wasn't worth the remodel and sweat equity so we choose the long game and cash-flow. 

Boom, you are now a real estate investor.Oh and definitely build a corporate web of at least 5 layers of shell companies before you even begin thinking about buying a property.  

Starting later in life is no problem—real estate is a long game, and the key is building the right foundation.

I’d love to share some insights that might help guide you as you build your business and investment strategy.Step 1: Focus on Building RelationshipsSince you’re new to the game, leverage your wife’s new license and start networking with local investors and realtors.

They got in the game when rates were low and it was easy to find cashflow plays. 

Does the sponsor have skin in the game?

Account Closed - I am trying to map out a game plan for my next investment, and a good friend of mine who is an experienced realtor wants me to consider Section 8 because he has a client who is an investor making very good money off of it.