Should I sell or leverage my equity?

[Tony Longoria]

Hello everyone! New member here. I want to apologize in advance for not having my profile updated before posting. Quick intro: I am active duty military currently stationed in OKC, OK. I own five properties and getting ready to close on my sixth. All are LTRs except for my primary residence. 

My purpose for this post is to get some advice. I purchased my very first property in Pensacola, FL during my flight training. At the time, I did not really know what I was doing or have the education that I do now. Fortunately for me, the property has not been doing too bad. I purchased it for around 150K in 2015. As soon as I transferred, I hired a property manager and it has been rented out consistently ever since. I have had absolutely ZERO issues with this property and every tenant I have had have been great. Seriously no issues at all. The only problem is that it only really cash flows about $60-80/Mo after all my expenses. 

Obviously the past couple years have significantly helped RE appreciation and this property in particular is now valued around $2$50-260. It is a 3/2, 1277 SQFT SFH.

My question is, should I sell this property and possibly take home 100K to re-invest in multiple cash flowing properties in the OKC area or should I leverage my equity through either a Cash out Refi or HELOC to put that cash to work here locally? My mentor recommended the latter, but I am on the fence of possibly selling. If I cash out REFI, I could probably pull out about 40K at 75%LTV which would probably up my payment a couple hundred bucks. I think being 1-200 in negative cash flow is a small price if I'm able to secure a couple more local properties with that cash.

I am open to everyone's opinion. Thanks in advance.