With that amount of equity and being in CA I think you have a couple decent options1.

With its robust legal framework, consistent economic performance, and favorable interest rates, Germany stands out as a top investment destination for foreigners.

Since you put 5% down and the appraisal came in at $160K, your available equity might be limited since banks usually cap HELOCs at around 80-90% loan-to-value (LTV).

The reason I say this is that no matter what your remodel if you are doing a lot of the work yourself (way to max out equity growth) then maybe look for an even larger remodel than you had thought about? 

You can do a cash out refinance and pull equity out that way.

And, for those people who have more time than money, they can put in sweat equity into directly owned real estate.

Buying as is properties in any condition from MOTIVATED sellers with LOTS OF EQUITY in the property.

This is the structure we were looking at which is more of a subsidiary structure and this applies to raw land development: 📌 Structuring Plan1️⃣ Set up a QOF to raise capital from investors.2️⃣ Create a QOZB to handle hotel & parking development (each separate land parcels).3️⃣ QOF owns the land & funds QOZB for development.4️⃣ Raise capital through QOF equity, bank loans, or JV partners.5️⃣ Develop the projects & operate for 10+ years for tax-free gains.

But if you'd rather take the equity and reinvest in something with better returns or less hassle, selling might be the better move.

That creates a really nice price / rent ratio which is favorable for investors looking for cash flow.