Refinancing my rental property

[Carlos Lopez]

Hi everyone,

I'm new to real estate investing. I live in Oregon, and bought my first rental property at the begging of the year in January. I bought it for 170k with an FHA loan with $5000 in repairs. I currently seeking to invest somewhere in Georgia or South Carolina where properties seem to be less expensive, and I'm looking into refinancing this home to pull the 70% in cash. Could I possibly buy two more homes instead of one? Any advise is much appreciate it, thank you?