Pay down primary or invest

[Tanner Marsey]

Trying to decide what my best move is and would love BPs opinions. I am about to sell my first rental property and I should walk away with about 125k ish after all taxes and fees.

I own my primary residence that I bought just over a year ago with an FHA loan. Wondering if I should take the profits from the sale and pay down my current mortgage to the 20% mark and refi it. I will eliminate PMI (just under 400/month) and take advantage of the lower interest rates (which feds are rumored to lower again in the near future). This could decrease my monthly payment by about 7-800 dollars/month with about 60-70k invested. Still leaving me a decent chunk of change to grab one or two more properties.

Or do I take that 125k and buy four or five properties in the 100k range?

Thanks for any input. It’s appreciated.