Strategy for Property #3

[Michael Mulroy]

I am looking for advice on adding my next property. I currently have two condos with the following financials:

Unit 1: cash flows positive $235/mo, with about 10 years left on the loan ($23k remaining at 3.84%)

Unit 2: Land contact, negative cash flow -$400 with 3 years left ($33k at 5%)

At this point, I have been focusing on gaining equity because the first unit is cash flow positive, with such a low rate. My second unit is gaining $750 in equity a month, so it's basically been a forced savings. That said, I would like to focus on my next move. Should I pay down the 5 year note faster, to get a $500 positive cash flow on the property, so a $900 swing? 

Obviously I want to have positive cash flow, but do I be patient, keep saving for my 3rd property or pay down aggressive and then pull equity to buy the next property? Using the equity later will be a higher rate and longer terms, hence my dilemma 

Thanks!

Mike