Newsflash: Advice on potentially buying a rental

I currently own a home in Jacksonville Florida:Purchased for: $107,000 in 2013 (mortgage)the value of houses has gone up significantly in this area, a house down the road same size is going for $180,000Rent in area is $1,350 for this size home my mortgage is $740Now I’m looking to see if there is potential to refinance to the value of the home and invest that money.I’m also tempted to rent this property out as the rent in the area is very high.any advice is welcome…thanks in advance



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