What would you do in my situation . Sell and buy new or refi

[Ergys Osmani]

I have a condo that I bought in 2010 for 60 k. It is fully paid off an currently is returning me around 1000/Mo in rent profit . The current value of the house is around 160 k now. I’m thinking with the money out of that house I can buy around 4 homes around 40 k each to generate me around 800 / mo per unit meaning 3,200 a month in total gross income . ( I know this is true because I just bought a home for 40k and am renting it out for that much )

If you were in my shoes would you refi the condo and get 75% out to buy more homes or would you sell it completely for 100% and use the 160k to buy 4 units?