Refinance or New purchase ?

[Sean Connolly]

Have been stuck between refinancing my current 3 family, which I reside in, or buying another 3 family which I can cash flow with. Currently, my mortgage is 2200 a month, 344 of which is PMI, which I have for the life of the loan. Would it be better to refinance and rid myself of the PMI, plus maybe a little less with P&I a month, or do I purchase a sound 3 family where I make money on. I kind of know what I should do, just looking for some more opinions. Thank you.