Advice? Leverage my equity to buy 2 MFs?

[Dave Madoch]

Hello BP

I am trying to get started buying multifamily properties in Chicago surrounding areas. My wife and I have no problem house hacking but ideally, wait one year for personal reasons to go that route. We have a SF rental that has about $200k in equity. I talked to a lender and he suggested we do a refi and pull out $100k and that would allow us to buy 2 properties in the $200k range. If we pull that much money out of the SF property we would be at a break even or possibly loss of $100/month until we raise the rent again. It makes sense to me to leverage this money to obtain 2 cash flowing properties but I wanted to get some pros and cons from the bigger pocket crew. What would you do?

thank you