Does anyone have any options?

I think you have to be careful what you buy, but keep your options open. 

You have enough equity in either property that either can be used for the ELOC but there are much more options on ELOC for owner occupied then investment properties.  

Hey Kelvin,I think Columbus is a great option to consider.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

From one side - that's going to be unique, so for the people who do want to rent in that a area there's not many options - will that allow a rent increase?

When signing up, GR is the closest metro, they don't give an option to list your actual location.

However, you're correct that there are potential disadvantages, such as limitations on financing options.

In all honesty, sounds like the best option here might be to find a way to increase your income so you can live more comfortably.Can you house hack?

To choose the loan choice that best suits your financial objectives and preferences, compare options including conventional loans, FHA loans, VA loans, and down payment assistance programs.