Need Help: Condo rental - Hold or sell to invest in a multifamily

[Nerlande Joseph]

I owned a condo 3/2 and 1/2, 2 stories; bought pre-construction and closed in 09/20 (first deal). Condo is currently rented until September 2022 with $400 gross cash flow (no maintenance so far since condo is new).  I am thinking about selling and use the money to buy a duplex or 3-4 multifamily units. Here are the specs:

25% down portfolio loan 5-year arm (bad rookie idea) at 4.625% (next increase 10/2025). I can't do a HELOC on the investment and I don't want to refinance to get cash out as the interest rate on the new loan would be too high. The condo appreciated about $100K at the low end of the estimate as of today's estimation. I have about $160-190K equity which will net me a good amount of cash after fees and closing cost.

That is my only source to continue investing - I don't want to touch my house which has a 2.75% interest rate, although I have some equity there too.  I really want to tap into a small multifamily as I now want to dip both feet into rental investing while still keeping my full-time job, off-course.

Thank you so much for the help