Taking out equity in this market, how much for 1st time investing

[Account Closed]

Just before this pandemic I made my mind become a professional investor. Question is we are about to approve for disclosures cash out refinancing. Now I am a little worry take out about 140,000 cash without knowing what kind of properties I am going to buy make me a little uncomfortable. Originally I was going to take out about 80,000 cash for just buy one property either single family house or duplex. But since my plan is keep buying and hold so I thought why I leave the equity in the house without leveraging it. And also I will need pay one more time closing cost again if I take out the money for two times.

Now in this situation. I don't really have any properties I am interested in. But I am still looking into it. Hope I will find a good deal soon.

I want some advice for this situation. Should I go back to my original plan just leave some equity in the house until I am more comfortable or  just take all the equity out one time?

I won't be too worry if it is normal time. But with low inventory, a little higher price and a lot things unsure in this pandemic. I am not sure which way is better.

Any input will be appreciated! Thank you very much!

Haihui