Sell my first property to get cash to invest in other properties?

[Won Park]

Hello. I need guidance on how I should go about my current situation. I currently own 2 condos (one is rented and the other I live in). 

In regards to my rented condo, I am getting about $400 in monthly cash flow and can get about $300K in equity if I were to sell it at the current market. If I were to upgrade the place for about $10K, I can get an additional $500 in rent. It is in a highly desirable rental area near Studio City.

As for the condo that I currently live in, it's located in Playa Del Rey and the real estate market is hot there because of many top tech companies moving there (such as FB, Google, Snapchat, etc). My monthly net debt (mortgage + tax + HOI + HOA + PMI) is about $300 more than the projected rental income. I just bought the place but I can make about $30K if I were to sell the place now. But it is projected to increase because of the big tech companies moving there.

So I need some advice on how I can expand my real estate portfolio. What should I do with my first property (rental)?

1) Sell it and use that income (apprx $300K) to buy a multi unit property?

2) Sell it and use about $60K to pay down my 2nd property to eliminate PMI ($160 a month) and use the rest to buy a multi unit property?

3) Sell it and use the income to pay full cash on a property outside of state (thinking Texas) since the houses are relatively cheap there? NOI will be about $1,500 a month. Only thing is I am so far away if something were to happen to the property.

4) Keep it and upgrade it (apprx $10K in upgrades) and make approximately $500-700 more in rent

5) Continue saving cash since properties in so cal is ridiculously high and wait for downturn? 

6) None of the above. I got it all wrong. I need to .............

I apologize for the long thread but any advice would be appreciative. I am leaning towards #4 and buy another property once I save enough for another down payment (probably in 4 - 5 years).