Have One Multifamily Under My Belt. How to Keep Momentum Going

[Devlin Harding]

I have a multifamily that I purchased through an FHA loan. I live in one unit and rent the other. If I were to move, I could definitely cash flow approximately $1100 a month after expenses. The property has appreciated about 50k higher than what I paid for it according to appraisal. Any strategies for my next move? Thinking about getting a Home Equity Loan and using for a down payment on the next property. Any thoughts on if I should possibly do a conventional loan and purchase a single family that I believe is undervalued? Keeping in mind reserve requirements, it just seems as though the first move to purchase was hard enough as it is, but now as I prepare to make my second purchase/investment it seem to be dragging my feet as I look for "The Most Value Maximizing Decision". A big part of that is due to my fear of opportunity cost and knowing how long conventional financing takes and how many hurdles it has.