Scaling after development single family portfolio

[Natalie Pancoe]

My husband and I have acquired 15 single family homes over the past 10 years. We haven't purchased anything for about 18 months because our market has changed drastically over the past few years. We realize we need to pivot.  We own some of the houses outright and the values on some of them have close to doubled. We would like to use those as a down payment for our next investment. 

Do we...

1. Cash out refi and buy more properties outright (cashflow would be high, growth is linear)

2. We have an option to use 3 as a down payment on a portfolio to double the number of houses we have.  Still would cashflow but not as high of a percentage if we do it individually and we would be using a lot of our leverage.  I realize this would happen much faster. 

3. Change gears to multifamily 

4. Something completely different 

Thanks!