However, my current Boulder home has roughly 700-800k in equity and was wondering what people in my situation would suggest doing.

Between the two I have about 250k in equity, however they are in an LLC now, which looking back, I think I would have not done without trying to utilize a Heloc or cash out refi first. 

The property builds in equity you earn some passive income and you have an added tax deduction for that year. 

Crossed 7 figures in equity around 2000.In 2003, sold all stocks and started investing in real estate: Duplexes, vacation rentals, and commercial projects initially.In 2008 shifted into single family rentals in the Fort Wayne market. 

That's about 10M-15M, with about 5M-10M in equity, at best.

@Celia Fernández, regarding your example of a 50K down payment, 20K rehab, 30K in equity (which stays in the mortgage as the down payment after the reinance), this would be the ideal BRRRR situation.

I have made my clients 6 figures in equity by fixing mistakes of theirs. 

. $305k invested, 12 years later $3.5million in equity with $250k/yr in income.

You can also gain access to the increase in equity in real estate and might not be able to do that in equities depending on the volatility of the underlying stock.

A note buyer will have a cash basis in equity funded notes, that's different.