Sell or rent a single family

[Anthony Damato]

Hi guys, just had quick question on whether you would dump a single family house that has about $120 to $150k in equity to fund a multi or a (multi) multi purchase. Or rent out the single family. Current rents of similar single families in my area are about $700 to $1000 more than what my mortgage is. I was entertaining the idea of refinancing and borrowing $60,000ish for a down payment on a multi. With what I have paid down and current interest rates, it would keep my mortgage about the same. So the idea would be to have someone rent my single family, pay down my mortgage and the loan borrowed against it while still making a few hundred bucks a month in positive income and use the money borrowed for a multi. I'm trying to set myself up for long term. Would the profit from selling this house be better invested in something else? Or is the wise decision to rent out and use the equity to pay for a down payment? Currently sitting on another single family that also has about $100k in equity as well. Will be my primary residence in this ordeal whichever way I go. Thank you in advance .