need a push

[N/A N/A]

I am at a delima. I have one rent property paid off and bringing in 1,050 in rent. I have a second house that cost em about 500.00 a month giving me 500.00 in income. I have my present home that I am putting $5,000.00 extra amonth in pricnipal. I thnk I should continue to do this untill I pay off my home and then pay off the second rental, save up and by the next rental cash and so on. I should have my home and 2nd rental paid off by August 2008. Is this the right frame of thinking Or should I borrow aginst the equitys and by more rentals?