What is the best option?

[Juan Leon]

I purchased my first single family home back in 2008 for $125k. Currently I owe around $102k and the same layout of home is selling around $250k. I currently have tenants who has been renting the home since 2011. Rent is $1600 a month and mortgage/insurance/Taxes is $1266 a month. Current equity is $130k I will take home ($250k -$102k= 148k -9%= $130kish) 

My current homestead I have around $232k in equity. Do I pull that out and combine it with the $130k to buy multiple properties? 

What would you do? Btw, I am 35 and new to rental investing. My goal is to create wealth by buying rentals that can hopefully generate passive income. Thank you for your opinions and time.