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?

Long term goal is Property  Appreciation.Brand new single family home with 3000sqft (+ additional 1200sqft unfinished basement) on a 0.25 acre lot.

In trying to be more helpful, I came up with two additional ideas:1.

A PM offers so many additional services in addition to things you cannot do yourself - like simply having a 3rd party between you and the tenant.

In addition we do not accept any applications for longer move in than the remainder of the current month and the next month (so if tenant is unable to move in by march 1, they cannot apply until feb 1 as we are unwilling to go longer than that without rent and will hold another open house).S8 needs to streamline their process if they want to increase their housing options.Best wishes

We also require that we be added to the contractor's insurance as Additionally Insured, so we're covered if they cause damage or liability issue.3) If the property is occupied:- One of our people MUST accompany their person (and we charge for this). --- We were sued many years ago, along with the owner, because tenant claimed owner's contractor sexually assaulted them!

Additionally, make sure you’re familiar with local property laws and any regulations that could impact your investment.I agree with @Jason Wray that you can easily find a cash flowing deal under 200k. 

With your additional $100,000, you’d have a nice cushion to renovate or furnish a property like that.It really comes down to how involved you want to be and your long-term goals.

Quote from @Conte Cuttino: Makes sense @Andrew Freed so say if we I can make it additional legal space, do you think the 107K left in the property for the return is worth it or should I sale and move on? 

Additionally, I really want to dive into the property management realm and am passionate about connecting and assisting other Veterans and Active Duty.