New to REI. Question about BRRRR.

[Blake Antis]

This is my first post on here. I have been wanting to get into real estate for years now and have been researching a lot more lately. I am very interested in 4 plex's and similar rentals and just found out about the BRRRR method.

I bought a townhouse that I am currently living in, with the intention to use it as a rental property. So this townhouse was my first step into this. It appraises at $70k and we owe about $58k. My question is, could I potentially refinance my townhouse and use that money to kick start this thing and buy another property? 

I am just learning about this stuff and don't know a lot of details but I know this is what I want to do, I just haven't taken the leap.

Thank you for the help.