What would be the best move financially for upgrading rentals

[Jeff Matthews]

Hi Guys , ok so I got a question . I own a 70K condo that im renting for $750.00 a month .The HOA is very expensive costing $195.00 a month .I own the Condo outright (No Mortgage) I have probably another hundred a month in expenses on the condo roughly. so probably $400 in Cash flow a month.

I Live in a $300K house I owe 160K on .My mortgage is $1140.00 a month plus $30 a month HOA .Taxes is included in the mortgage payment .couple other payments a year like sewer 250 a year and trash is $43 a month .Interest rate 4.75%

My goal is to upgrade and get more rental properties and to keep investing. Right now the interest rates are very low .

So what’s a good move, should I sell the condo and take the money and buy 2 more properties with mortgage’s by putting 20% down on cheep houses?

OR should I sell the condo and put money down on a new house and live in it and then Essentially upgraded from the condo to the house im in now as a rental property ?(I estimate the rent for this house would be about $1500.00 a month ) 

If I do rent out the house im in now should I refinance it before I rent it out?