Should I take a cash out from all paid property

[Joe M]

I wish I would have discovered this website earlier. There is so much information and everyone is very helpful.

Here is my situation:
I became landlord about 6 months back. I bought my first property as all cash deal.

I paid 105K for a duplex which is generating about $1200 in rental income every month.

Now I got my feet wet and I have been thinking about getting couple more properties for rental. I have about another 100K saved for my next rental properties.

Question 1: Should I do a cash out refi on the rental I already own?

Question 2: I have been offered 5.00% 30 year cash-out refi with 2K closing cost. to take out 75K from the property I own. Do you guys think 5.00% is a good rate for investment property? Can you please suggest some investor friendly banks?

Question 3: Should I try to spread out my 100K cash savings on down payment of multiple properties or just buy 1 property and pay cash?

Please let me know of your opinion.