Second property Dreamin'

[Tyler Darby]

I am new to real estate investing and I want to purchase a second house. Here is my situation: I bought a house about 8 months ago for 168K. I put about 18K into the house for updates and now live in it with two other roomates that pay me rent monthly. The mortgage is $1205 per month and I receive $1000 a month total in rent from them. I have been on a quest to pay off all debts lately and as of now only have my truck note and student loans left before I am completely debt free (besides the mortgage). I currently have about 10K saved up and my question is... Should i: 1) Continue to pay off debt to help my debt to income ratio and up my chances of getting a second mortgage for a second property to rent? 2) Continue to save more in order to buy a house with cash and use the BRRR method to rent or flip it? 3) get a cash out re-finance loan for quick access to cash and use as a down payment for a second house. I am really looking for some wisdom here, all positive advice is welcome. How would you go about this? Thanks,