Need Help from a Pro- Kind of Stuck in my Progress

[Daniel Green]

I'll admit it.  I'm kind of confused so wondering what others think I should do.  Here is the situation:

- I own a 3 family in Weehawken.  Worth about $825K.  Mortgage of around $540K.  It makes a bit of money on the rent roll but not hitting it out of the park.
- I live in a SFH- worth about $550K. Mortgage of around $350K.
- I have about $115K in cash I can use to invest.

Here is the deal.  I don't know whether to buy a multifamily in Northern NJ and collect the rent, build a spec house (Tenafly/Cresskill) or buy a fixer upper and flip it.  Also not sure if I should refinance my other properties to get more $$$.

I feel like spec houses you make quite a bit of profit but I have no experience in this area.  I lean toward multi-family because that's what I'm used to but still my current rental isn't making a ton of cash...even though I will make money on the appreciation of the property it's a long haul.

Any ideas/guidance from the pros out there?  I'm not a complete newbie but I feel kind of stuck/frozen and I would like to scale my real estate holding to make some real $$$.