What would you do, expand now or wait ?

[Dee Shaun]

Option 1) Take out equity on a rental property to refinance another deal 

Option 2) Double down and quickly pay off another mortgage on a rental property - hopefully in less than 8 years.

Option 3) Just continue saving assuming that you believe that a recession is coming 

Issues.  Options 1 could potentially make me highly leveraged (more than I would like to be) thus there would be little room to maneuver if crisis does exist in the properties that I currently have. Also the goal has always been to have other people (rentals) pay the mortgages  which means doubling down to quickly pay off 1 mortgage equals using my money.

Additionally, I do believe that there is a recession looming thus a bargain may be on the horizon in the next 2-3 years . I don't think its going to be anywhere near the 2008 financial crisis - but I do believe we are due for something.

What would you do and why ?