Should I refinance first property to finance my 2nd?

[Juan Murillo]

Hey guys, I am buying my first house, it comes with 100k in equity (family deal). Should I pull that 100k out when I move out and start renting the property out?? The cash flow before a refinance will be 500 to 800. 

I am able to save 50k for investing yearly without refinancing. I’ve also thought about just pulling my initial down payment and whatever I pay towards the principal and partnering that with what I save for my second property. I plan on house hacking…there are almost no homes under 350,000. I will be looking for property betweenuu 350,000 and 650,000 multifamily or single family if it is a good deal. 

Thoughts??