Sell or Refinance and Rent?

[Davis Wiens]

I purchased my first investment home a little over 2 years ago for 37k that I have put substantial work into (all new electric, all new HVAC, plumbing etc). In all I'm into the home for 65k. It is a 5bed 2ba home.

Originally, I planned to use the BRRR method to refinance the home for my estimated ARV of 110k and pull the cash out to fund the next property.

But my neighbor just recently sold his 3bd 2ba home for 135k across the street and I was absolutely astounded. I had no idea the market would be so high.

I think I could sell it for 160-170k with that comp.

So my options are to refi the home and still have substantial refi cash, and a rental property that cash flows 2-300 dollars a month.

Or I could sell and have 100k in cash in the bank debt free, which I could use to BRRR 2-3 more properties.

Any suggestions?