Cash out Refinance to buy investment property

[Brian Alvela]

Hi,

I'm in some what of a dilemma in figuring out my best route on an investment property that I'm looking to buying. So I'm considering either taking a cash-out refinance on an investment property I own out right (valued at $335,000) cash back of approx. $246,000 (75% LTV its duplex investment) and using those funds plus savings ($69,000) to buy another investment property valued at $315,000 or I could buy this multi-unit investment property and get a loan up $236,000 (again 75%LTV on a multiunit investment property).

Based on these figures looks like my cash difference approx. $10,000. Am i missing any opportunities here to leverage up? I'm not interested in any heloc's or home equity loans. 

Any advice or direction would be appreciated.