Beginner looking for input

[Donald Bryant]

Hi, I’ve been researching and saving money for a little over a year. My goal is simply to get started and have at least 1 rental property by the end of the year. We currently owe 110k on our home and the estimated value is around 160k. We’ve also managed to save 30k. Our current home would rent for around 1200 per month if I were to refinance I could get the payment down to between 600-700 after the taxes are raised. The property is in good condition. New roof, furnace, ac, flooring etc. Would you move and rent out that house, or just buy another house for a rental? Possibly sell that house? I’m stuck on what my best option is in our current situation. Any input is greatly appreciated!