refinance house to buy next property or house hack multifamily?

[Vincent Herrera]

Hi guys, I am a bit torn as to what to do here. Your opinions would be great! I have a sfr I am currently renting month to month. I do have a realtor and the property is for sale, and I was planning on using the profits to use an FHA loan to put money down on a multifamily and house hack it, but now I am thinking, "should I just try and refinance and invest that for a down payment on a multi family"? It's not really cash flowing very well right now, less than $100, but I was thinking refinancing would possibly lower my payment and it would be cash flowing more. I owe $111,000 and it is worth around $160,000. What would you guys do?

[Karen O.]

$100/mo CF isn't much and will be less if you refi plus the up front cost of a refi..

Better to sell and use net proceeds to purchase next investment.