So heres my story, bought my first house in 2013. made the basement separated living quarters.  basement rents for 1200/mo. upstairs rents for 1800/mo. mortgage is 175k and house is worth minimum 450k.  so i feel there is a lot of good things going for me and we have been so thankful, but i am nervous and unsure of my next step in real estate.  currently we live in the upstairs and are thinking about buying a 2nd home and doing the brrrrrrrr method again but not sure i should refinance this house or i guess my big question  is how much do i want to liquidate my assets?  do i take the moneys out of this house and buy 2nd house with cash? or whats my next best move.  i just dont want to get so thinned out and the markets shift and end up lossing everything...

at the same time i could refinance this house take my 185k and find a house for 100-120k still have cash for repairs and rent current home out that would be cash flowing about 1500/mo while i use my construction background to fix and eventually  rent that one....thoughts i guess would be much appreciated for this newby:) thanks!