How much to leverage when refinancing ?

[Ryan C.]

I hope I posted this to the right forum?!?! I purchased a duplex for $165k several years ago and owe 136k on it. I current collect $2050 in total rents. I cash flow around $800. The property is valued at around 300k. I’m able to pull out $225k, which in turn lowers the cash flow to roughly $250. Should I do this or leave more equity in the property? This is a first for me fully leveraging a property and lowering cash flow that much. I will be using the money for additional properties. End goal = quit the 9-5 and live on cash flow.

Any direction is greatly appreciated. Thanks in advance!!