Sounds like your in a great position to pull equity out of the home and pay off your MS debt and still get a good rate. Based on your previous investment I would take the cash out above the MS pay off and put it down on another investment property. You could always utilize a second home loan which is only 10% down. That offers an immediate STR rental situation that you could turn into a long term down the road. Take a look at your local market or out of state and see if a second home options might be a good fit.
If not I would still use the cash and keep building your real estate portfolio with an SFR or MF (2-4) unit.
I really appreciate your insight and thoughts on the situation. I like what you said about taking the equity and buying a second rental, expanding my real estate portfolio is a goal of mine.
ACAT your portfolio over to Interactive Brokers and borrow that money at 1.5% next time. Unless you’re tied up in MS-sponsored mutual funds that you can’t move.