That said, in the scenario you described, I’d either end up homeless and broke or starving to death, lol, while sitting on $275K of equity.

There is low inventory, lower sales volume, and high interest rates, and as a result many people are sitting on the sidelines, either intentionally or forced.

To clarify another point @Tiarnan Gormley: I EMPHATICALLY disagree with any & all advice being given of: sit-tight..... wait..... be patient.... watch paint dry..... do nothing..... 

For the areas of interest (you are local so I'll say suburbs west of City Line Avenue) there are few and far between -and- have many investors sitting on large sums of cash to jump on anything that comes up (where I would be navigating a reverse 1031.) 

I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.

Jaime, I'm actually sitting in a hotel in Lehi, near Salt Lake, right now.

After sitting vacant for a while I'm entertaining the option of converting to residential units.

I own one and use it from time to time, @Kevin S.The base of the Nix sits flush against the painted surface, and it has it's own internal light source.

Tired of sitting on the sidelines.

Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?