Should I Sell to Profit Now , and Reinvest?

[Adam Wells]

Good Morning. I'm new in here and eager to grow my portfolio. This may be a longer post, but here is my situation. I currently am renting out a single family home that I previously lived in. When I moved out and into my current home, I refinanced he first home to pull out cash needed for down payment on new home. When I did, I cut that loan down to 15 yr mortgage, which has basically 13 yrs left. In my current market, I can sell it profit $100k. I am not cash flowing but under $200 on rental side. Should I sell it and take profits to invest in other property/ new home for family, or should I just keep it and let it be paid for in 13 yrs? Then I would have a cash flow of $1600+ and a paid for home (which could be sold for my 3yr old's college). I am torn on what is the best plan of action. Or should I refinance again back out to a 30 yr mortgage to increase cash flow on rent now?

[Justin V.]

@Devin Creek

Fair and thank you for the additional details.

I misrepresented myself: I’m in the “get long term fixed low interest rate loans to get properties, making sure there’s good cashflow and a nice cash on cash return percentage” group. ;)