Cash out refi. Or sell?

[Jacob Thompson]

Wanting to purchase my first property (or properties) here in 2021 but wondering what other seasoned investors would suggest I do with my current home...

I'm currently in the middle of a remodel of my current home (we cash out refinanced late last year). My home appraised during the refi. Last year for $137,500, we accepted a new loan amount of $110,000 (80% LTV) and after my remodel is done I expect to be in the ballpark of an ARV of $160-$170K?

Would you, as an investor starting out, sale out and collect profit after closing or cash-out refi again and invest in other properties, rent the current home out, buy another home to live in, etc?

Remodel information:

3/1/1 brick home

Complete upstairs rehab (insulation, drywall, new heating/cooling system)

Full bathroom remodel (toilet, flooring, shower, vanity, etc.)

New kitchen appliances

Front and back decks installed