$90k loan on house, $130k bank appraisal, $10k in bank. How would I use this equity to purchase a rental or would it be a mistake?

Northern Indiana. My background is construction management. I am capable of home improvement and know the right subcontractors in town. I am 28 and would like to get into real estate investing. I actively track weekly the properties for sale in the area. Before I actively start learning about real estate investment I want to know how I would leverage the $40,000 of equity in my house or the $10,000 in the bank to make the purchase? Would it be possible to have this available for the purchase of a foreclosure? I had a HELOC on it before.

Thanks for the advice

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