Sell or Borrow from Equity

[Francesca Tindal]

I own a single family rental property in Orangeburg, SC clear. Currently it rents for $850 and after all expenses I cash flow $493. I would like to buy a second property in Northern NJ to house hack. I am wondering if I should sell the property in SC or get a mortgage and use that money to purchase the second property. The mortgage would be for $50,000 which I'm assuming would bring my cash flow to around $250. If I do borrow from the equity in the house what steps should I take. I looked into HELOCs but from what I've read they aren't very common on investment properties and even less so in SC.