[Calc Review] Help me analyze this deal

[Kevin Klyse]

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Hi BiggerPockets people. Looking for some advice.  I bought this house last year fixed it up and now have a tenant.  Trying to plan my next move. Refinance and take money out to buy another property when the market has a downturn. Sell and 1031 into a multi unit. 

I have a 4% loan interest only for 7 years.  The house has been in my family for several generations some my property tax is low. 

I have a lot of equity in the house and I want to leverage my money to keep going forward.  

Thank you for your time. BiggerPockets rocks