To brrrr on first property or second

[Jason Anderson]

I bought a 4 plex in 2014 for 65k with a 15 year arm (3/1?) currently at 4.1%. It’s down to $31,000, I also have a heloc at 6% with 5 years remaining $32,000. It appraised for after renovation $240,000, it gross’s $2600 a month my loan payments total $1000 and I’m left with $800 cash.

This is my first house hack and I’m going to buy another one in March, I work construction making 40k a year. I think I have 3 options

A. Brrr it take the equity and buy another

B. Get an fha loan on next house hack while not touching my other loans

C. Get an fha loan on next house hack and refinance the 2 loans for a lower interest rate but leave the equity alone.

I feel that leaving this first property alone and start brrrring from property 2 would give me a big safety net. Basically I lack the knowledge and am overly cautious, plus this property is next to my favorite hang gliding site Lookout mountain flight park so I need to always keep it!