Beginnner with 200k in Equity- Next Move?

[Chad Cress]

Hi! I would love to get the ball rolling on investments- either fix/flip or rental units. Here Is our scenario: We live in Southern California in a historical home (almost zero property tax) and very well protected neighborhood from any decline in value. We purchased for 575k with lIttle money down and now it appraised for 775k based off market goIng up and a back house we fInIshed (and rent out now). We dId a cash out refI to pay for backhouse and owe 589k on house. Should we sell to make that almost 200k and roll into next primary (no investment) or stay put and try to pull more cash out for a rental or flip. Keep in mind having our mortgage payment go up in refi is not ideal.