House hacking with an FHA loan is a great way to minimize living costs while building equity, or you could invest in an out-of-state rental for steady cash flow.

My wife and I started managing more properties for others as word of mouth recommendations started and we started to use the management and arbitrage cash flow to acquire our own properties and fund the BRRRs we were working on.  

You don't want to get stuck with negative cash-flow because you can't find another care facility tenant to rent it.Also, probably want to check with your insurance provider and see if all those tenants who are likely to fall and break a hip are going to be an issue for them, and look into the legality of what happens in the care facility owner dies and you're stuck with 5-8 tenants in the home with no one to care for them and no living descendants.

Currently cash flowing about $625/mo with $85,000 in equity Lessons learned?

Partnerships & JV Deals - Partnering with other investor partnership capital partners can spread the risk and enhance deal flow.

Are you looking for more cash to invest in something new or for more cash flow from the property that you're refinancing?

Would it make more sense to move the money we make from selling to a different property that could potentially increase our cash flow? 

Here in the Myrtle Beach area there are plenty of deals that will cash flow with a 25% down payment.

Just make sure the rental property’s cash flow comfortably covers the HELOC payments and other expenses.

Quote from @Duarte Marques: Hey BP community, I'm new to real estate investing and have been studying (reading books, watching webinars, constructing excel cash flow models,...) close to a year.