How to leverage an inheritance. Sell, Refi, Wait?

[Kevin Konrad]

Hello BP! 

I am currently living in Pensacola FL and looking to get into STRs and possibly multi-family properties. I inherited 2 properties in Denver and I would love to hear what an experienced investor would do in my shoes. Combined the properties are worth about $700k and paid off. They each bring in about $2k per month and thus far have not had many monthly expenses. I also own a primary residence that I purchased with a VA loan that has appreciated about $50k.

I'd really like to use this blessing to jumpstart my real estate investing journey. The options I see are:

A. Sell one or both properties and spread it out among 4-5 higher end properties for STRs in desirable markets, leaving cash aside for furnishings and the necessary emergency funds. 

B. Refinance one or both properties and do something similar as stated above but with even more debt and obviously less money to invest overall. 

C. Wait it out and continue to collect rent and become more experienced with what I have. 

Some concerns. With all the equity, I see it almost as a lot of rope to get in trouble with (in over my head). What would you guys suggest? 

I'm more interested in buying properties that are not very heavy on rehabs due to my current job and family life. I appreciate any insights in advance!