Newbie looking to buy 2nd Property

[Cory Ostach]

Hello BP,

I am new to the forum and just bought my first rental unit for $49,000. I put 20 pct down and during the loan process it was appraised for $60,000. I will be doing some rehab to the property new flooring, paint etc. but not much to increase property value a lot. I am expecting the new appraisal to be around $65,000 - $70,000. The question I have is what should be my next play in regards to financing my next property. Cash out refinance? Leverage the property to cover the principal for the 2nd property? Would like to still stay conventional and not start getting into commercial loans. Any help would be greatly appreciated!