Need advice on what to do with my money

[Brent Olivier]

Hey guys. I'm having a hard time deciding what my next step is. I currently have 7 sfh rentals. My houses are 2 bed, 1 bath.  Around 7-800 sq ft. Typically rent anywhere from 6-700 or so.  I try to purchase my houses in the 30k range. The market has gone up lately and these have now turned to 40-50k houses.

I have around 40k in the bank and I'm not sure what I want to do next. Here are some options of what I'm thinking. Please let me know what you think, and any suggestions on what you would do.

Option 1)

Go buy a house cash. Add it to my portfolio and start saving for another.

Option 2)

Mortgage a few properties. Last time I looked into borrowing 40k, it took about 10k to get it with 20% down and closing costs and what not.  I figure I could get 3 like this pretty quick.

Option 3)

Get money from hard lender. Get a fixer upper. Once completed and rented, take it to a bank and get a 15 yr mortgage on said property. Lather, rinse, repeat. 

Option 4)

Go build a new construction home. Been wanting to do this for a little while. Have the means and contacts. I run a finish carpentry crew by trade, so I know plenty of people to help and ask questions along the way.

What would YOU do?? I'm interested in long term and short term profits. Help me make a decision.

Thank you!

Brent