Curious what might be a better option for growing or stacking investment properties. 

1) Buying under value in a warm market, doing minor fixes and refinancing your money out to reinvest. Hopefully the property appraises higher. Holding the property for rental and cash flow. Repeating. Would have been easier to just write "BRRRR"

2) Purchasing a multi family, saving and using the cash flow/OPM for future purchase.. 

It seems like having two properties would be a better start for cash flow but I wonder how hard taking the next step toward growing a portfolio would be. 

Thank you for your responses and time! 

-Nick Bowers