Cash out Refi and reinvestment help!

[Tim O'Keefe]

Hello all! I am a long time lurker here, living in the North fort worth Texas area,  and have been out of the game for a while and need some help before finally making my next move.

I have two properties, a primary residence purchased in 2011 in TX and a second townhome in RI in 2012. The townhome is rented by family and basically they cover enough to make the mortgage but in not making profit from it.

I have about 80-100k in equity in each property and am debating on whether to do a basic refinance considering how low the rates are right now OR Cashout refinance, Heloc, Heil, OR just leave it be and wait til my family decides to move (potentially 1-5 years)

I have more family here that would be able to do the same thing as my family in RI and basically pay the mortgage but I wouldn't be making profit, simply owning another property and building equity long term. I was thinking of doing a cash out refi on the second property, pulling out as much as I can (maybe 40-80k) and using that for the down payment on a new property here for them. What do you all think of this idea?

I have a few more ideas and lots of questions lol so any and all help is appreciated!

Thanks 

Tim