Take the equity? Hold? Sell?

[Sean Gallagher]

Creative suggestions for this scenario.  You purchase a property that winds up having about 60-80k of equity, in need of lots of minor repairs, 3br 2ba.  Only property owned, want to build on portfolio and maximize growth potential. Do you sell, collect all equity and spread it out amongst a few properties as down payments covering light repairs.  Or say rent and hold the property, but I don't see this as a viable option as all that equity could be put to use.  I've heard a little bit about cash out refi, not sure if that'd be a smart route, Ive read about all cash buyers doing this after they purchase a property and get it ready for rent.  I guess they go all cash to acquire the property fast and then cash out refi to get their money back and move on to the next.  Thoughts on a good move in this scenario?