Cash out Refinance to buy my first rental property

[Matthew Tarantino]

I’m a newbie and I’m looking for some advice. We bought our townhouse and currently owe 98K, it’s currently worth 180K. Would it be wise to do a cash out refinance to buy a multiplex; I’m thinking a tri/quadplex so that I could at worst pay both mortgages but I’d obviously love to have some cash flow from my first deal. Or if anyone has any other ideas that could be better I’d appreciate the advice.