Should we sell or refinance the FHA loan to buy another home?

[Taylor Comer]

Hi!

My partner and I purchased our first investment/live in property in April of last year with an FHA loan. We have been trying to sell it for a few months now and are starting to reconsider..

It is a 4-plex, we cash flow each month, and can raise the rent on 2 of the units to gain even more cash flow. Over the past year it has been a PAIN due to the original tenants we inherited, but all of them are almost out and things have been going smoothly lately.

We are still waiting to get our appraisal back, but it seems to be that it will come in a minimum of $57,000 higher than the amount we still owe on the loan.

We are debating whether to keep the property with new tenants vs sell and get our money out. If we kept it, is it possible to refinance, and either use the FHA loan on a new property for us or take a loan out for the down payment on another property?

Sort of jumbled, but hopefully this all makes sense and we can get some advice!

Thank you!!