Tons of equity, what would be your next step?

[Andrew Aladjadjian]

Hello BiggerPockets community!

I am a Los Angeles realtor/investor looking for your opinions on my current investment.

I own a condominium in Los Angeles which has built equity of about $200k (including selling costs). I want to start my next investment but have some options, and want to hear your thoughts and opinions on the next investment:

A) Refinance and cash out 100k to invest in another SFR or Multi-family buy and hold investment

B) Refi cash out 100K and find flip opportunity

C) Sell and 1031 exchange for a multi-family/SFR

D) Sell and 1031 for a fixer multi-family/SFR and repeat process.

E) Other ???

I have been listening to many BP podcasts and I like the Idea of buying run-down multifamily properties (1-4 unit), rehabbing (creating value) and selling for profit, and repeat. I would also need additional funds to make this happen and would be open to like-minded investors partnering up. 

So, how would you make your next move? 

Thanks