I've been toying with the idea of buying nice multi's in towns/cities that are in college towns and densely populated cities/ towns in my state. 

So I'm toying with selling both places (or one) + cash and 1031 for a good multi family unit deal elsewhere in the U.S. (20+ units)... or keep both and borrow equity from each place since these are PRIME locations in Denver, CO and the fact that I nailed them at such low borrowing rates a few years back.Tell me what you guys would do to grow you portfolio, with 400K in equity, and 40K cash.

More than likely people are using their garages to store their toys/junk and not park cars.

And they even spent some money on capex to make it better looking.But even then, small town Malls are just not a popular place to shop anymore and then their Sears went out and then their Toys r US closed.

With taxes, mortgage, and insurance my monthly payment is around $2600/month.My husband and I have been toying with the idea of renting out our current home and using the rental income to offset our mortgage qualification in the debt/income calculation to buy another home.

Don't have expensive hobbies (yet) - plenty of awesome fun you can have for free, and plenty of time for the spendy toys later down the road when you are rich.

I briefly toyed with this idea when renovating a 4 unit.

Read some Dave Ramsey and Robert Kiyosaki books and decide what you REALLY want- toys and trips or an income stream?

During the due diligence process I found out that it was primarily a toy factory and then later part of it was used a foundry.

. $20.00 to Toys-r-Us for kids under 12 and $25.00 for kids between 13 and 18.