How to proceed financially?

[Michael McDermott]

I am looking for advice on how to proceed financially. Here is a snapshot of my finances: I have one rental unit which nets me roughly 250$ a month, the balance on the mortgage is 108,000$ which I have paid down from 117,000 (appraised for 125 in Nov of 2009). My student loan payments are roughly 450$ a month with a balance of 33,xxx$. Currently I pay about 750$ a month in rent/utilities. From my full time job I net about 2,600$ a month, I can save about 1,000$ a month and have 10k$ in savings. I am looking to purchase another rental unit in the near future but I am not sure if it makes more sense to save as much cash as I can, pay down my student loans as much as possible or pay down the mortgage, refinance and increase the cash flow on that property. Any and all advice is appreciated. Thank you.