Pay down Debt or Invest?

[Fernando H.]

I have 2 investment properties with decent cash flow. about $500 profit a month for both combined.

no other large debt and have a full time job that can cover both mortgages in the case is not rented.

I have full mortgages on both properties and not sure if to aggressively pay down mortgages on both or invest on another investment property for additional cash flow. if investing, the following are my options:

option A: Plan is to buy a distressed property at a city auction for about 10-20k cash with intention to do minor rehab and keep it long term as a rental. After rehab,  I can get a home equity loan and have more money cash,  to continue investing on 4th property. 

Option B: Use that 10-20k as a down payment on a turn key multi unit for positive cash flow. not much room for further investing short term with this option.

Any advise from the BP community would be much appreciated.