Best utilization of equity with a VA loan?

[Matthew Rayl]

Hello everyone, first time poster. I am AD military living in the San Diego area. I am looking for insight into what would be the best option to begin investing in rental properties. I want to ensure I have my financing optimized before making any commitments on opportunities. I currently have a 3.375% VA loan that I owe 335K on and home is valued at 640K. I have lived in the house for over 7 years. I also recently took out a 196K 6% HELOC for purchasing power. a. Leave my situation as is and get after it. b. Do a VA-Conv. refi to free up refi option. c. Close HELOC and do a VA cash-out refi to pull about 200K of my equity out. (maybe do a VA-Conv. refi later down the road?) Thank you in advance!