Since part of your property is a rental, I believe a portion of your mortgage interest should be a tax deduction unlike your other debt.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

I would be careful how you go about this one.

Yes, you can transfer your properties to an LLC without refinancing, but here’s what to keep in mind:1.

Who will drive by to see if the lawn is cared for, or if there are three unauthorized dogs in the back yard?

Have you considered which markets or property types you're interested in? 

Any time you are not living in the property it is more risky for the lender.

Its a lot less headache to file the insurance claim and get this taken care of. 

I have my first home rented out, it's currently not in an LLC and I would like to pull equity out to purchase my next rental property.

Quote from @Benjamin Blunt: What are the best strategies or tools that you use to find Off-Market Properties?