Help in 2024 Refi - acquire new property

[Jeffrey M Gormley]

In an unknown future market I am stumped on what the smart move is here.

40 yr old Fresh out of divorce court with little left of savings, living with relatives. I own a 2 family that is occupied and cashflows. This current house has +- 175k in equity with a 3.5% FHA loan.

Is it worth cutting my cashflow in half to take a 2nd position and putting a 5- 10% down payment on a new owner occupied multifamily with the state of the market?

My concerns are... cutting my current cash flow, and acquiring a new property at a massively inflated price that will not cash flow great (after I move out).   Taking on high interest rates with a market about to turn. Possibility of rents coming down that would put me near break even on both properties.

I do need a place to live but I would only buy something that has the potential to hold long term as an investment.  I know the value of having two properties over chasing cashflow but It seems really difficult now and I do not want to jeopardize my current Asset as it has good value and great future cash flow potential. 

Any Advice or is Jeff Bezos going to put us all out anyway?