New to investing and am in need of some guidance

[Akadius Ashby]

Hello, I am new to the investing world and am looking to start my first project. My fiance and I recently acquired a property that we would like to rehab and live in for a few years to save money. It is an older home built in 1952 3 bd 1 ba, and is about a thousand sq ft. I believe it is worth about 100k but we haven't had an official appraisal yet. We want to put about 30k or less into it, add another 1000 sq ft to and then move into it. The comps in the neighborhood are around 180k. I wanted some advice as to the best route to go about financing the project. I was told Heloc or cash out refinance, but don't know anything about the process. We don't owe anything on the home so we are in good shape going into the project. Once we get into the home we will be in great shape not having a mortgage, and will be able to save significantly to start future projects. We don't want to sell it when its all said and done. More so use the Brrrr method and grow. This is the project that will get the ball rolling for us so we want to make sure that we go about it the right way. Oh last thing, this is all being done in Bakersfield California. Any help or advise would be amazing.