Next steps advice?

[Kristi Pratt]

My husband and I own a profitable condo we rent out short to mid-term, while living in a single-family home we plan to convert to a long-term rental. We live in a low cost of living college town. We have $60k set aside for a new home down payment. Our combined annual income is $150k, with somewhat limited potential for salary growth. We're unsure of our next steps.

We would like to buy another home, live in it for a few years then eventually rent it out as well.

Should we wait for lower interest rates or consider a cash-out refinance.. or maybe something else? Any advice would be appreciated as we're new to real estate. Thanks!