Need help from experienced buyers/sellers etc.

[Paul Scammacca]

I have looked at this from different angles and am mentally stuck looking for advice. Please consider below and offer thoughts, thank you.

We have 4 properties rented:

1. Mobile Home owe 43k safe value 100k (plus 300 month currently) 8.8%

2. House owe 104k value 170k (plus 100 month currently) 4.375%

3. House owe 72k value 125k (plus 300 month currently)5.5%

4. House owe 59k value 99k (plus 300 month currently), needs about 15k rehab but not pressing 5.5%

Our main home owe 185k value 375k 3.25%

My thoughts are to refinance our home and pull out cash to buy another property (have cash for down payment and save some for emergencies/repairs). I can still do this but am concerned about the prices now. Basically, I feel I would put enough money down to come close to the 1% and rent the property out. I bought the about four at 1% but that seems LONG gone. I am in the Jacksonville, Fl market. It seems everything out there now with all the buyers leaves homes in areas not worth it or retail, thats it.

Questions, what would you folks do? I dont want to sell to buy high? Not a fan of the stock market. How are you guys getting over this hump? We are both teachers so I dont have time for the mailers and all that. I hate to stay put but is it best? Thanks, Paul.