Have equity, looking for loan advice

[Dane Collette]

Brand new here to BP (first post ever!) - I have two out of state rentals. Have had one for 17 years and it's paid off (value approx $280K) netting about $1,000 per month and another for 15 years that still has about $60K remaining on the note and is netting about $600 per month (value approx $270K). Also, I am a current homeowner in greater Sacramento area with about $200K in equity in my primary residence. 

Current strategy has been to put all profit from rentals into note payoff for the 2nd (out of state) rental, but I'm looking at the market where I live (greater Sacramento area) and thinking I want to get in (and wish I had done so sooner). I've watched the market just march up since 2012.

There is a LOT of new construction in the area. Just looking for advice/thoughts on whether I might try to nab a new home in a thriving area to rent out (Buy and Hold) or look for BRRRR. I'm planning to stay in the area and am happy to buy and hold and let renter pay for an investment property. In either case, I'm wondering what might be good options for financing a purchase of another rental property.

Thanks, in advance!