Should I refinance/cash out my primary residence to purchase a 4 plex?

[Ruben Canales Jr]

Greetings!

I have a primary mortgage ($195k) and to be paid off in 8 yrs.  I'm interested in refinancing/cash out $200k for a down payment for a four plex.  The 4plex is selling for $999k and cash flows $3k.  If I do the refinance, I will have two 30 yr mortgages.  Is this a worth while real estate investment strategy and opportunity?

Ruben Canales