My OOC duplex dilemma

[Kyle Ritt]

Hey guys I currently have a duplex that I am living in. My fiancée purchased one a mile down the road and I am thinking of renting mine out and living with her. I’ve got a 3.75% interest rate on an FHA mortgage with about 100k equity in the duplex. If I rent it out, what are my best options to get money out of it to purchase another property as a now investment property. I started my own business and need to wait a year for tax returns to get a HELOC, but I hear it is tough to get a HELOC if it is an investment property. If I refinance, I am assuming the rate will jump up a lot higher than my current FHA rate. Any thoughts?