[FrugalTrader]

If you're looking to buy more properties, you could refinance your existing property and use the money for a down payment on a new property. That way, it will keep all the mortgage interest tax deductible as well.

 

[FrugalTrader]

that is a good idea though could I refinance if I have only have 50 thousand into the mortgage?

I believe that the lender would look into the "equity" on the property, and not what you have put into it. So for example, you think that your property is worth $500k and if it is, a lender could lend you up to 80% of the equity.
So if you purchased for $300k and have $50k of your own money into the property, your equity would be $500 x 80% - $250k = $150k. The $150k in equity could be borrowed in the form of a HELOC to invest in more properties.

Note that I'm not recommending this strategy, just pointing out some options.