Using equity to buy more homes

[Lindsay G.]

I am pretty new to investing with 2 rentals.  We turned our first home into a rental and the property has around 200k in equity and the return is 9%.  We are looking at investing as a long term investment for income when we retire.  Generally we plan to mortgage the properties.  Is it best to keep that first property as is and do nothing with the equity or refinance (which would probably lead to a higher interest rate since it’s currently 3.875) or sell the property for cash to buy more homes?