I own a property and considering a cash-out refinance

[Randy Arnold]

I currently own a property that worth roughly $250,000 and am considering doing a cash-out refinance and I am not sure if that's even the correct path to take. The home is currently being rented for $1750 a month and after all bills paid, I end up with right around $1000 a month (no mortgage).  

My plan is to cash out the home I own and buy a home for my family and at least one other investment property. After talking to briefly to a lender, I was told I could expect somewhere around $180,000 for the home which would be around 980 a month, leaving me with zero cash flow and not ideal IMO. 

I have three big questions, what are my best options without selling the home?

Are their different rates or loan types with different lenders?

What is the ideal cash flow for an SFH investment property?