Is $40K more even going to help me?

[Account Closed]

Long story short... ya right.

I am ready to invest and have $18K cash and a primary residence with $70K+ equity. Well $70K if I sell it and become homeless.

I can refi with cash out getting $42K (80/20) and a new mortgage of $900/month.

My problem is if I eventually rent my house at $1200/month with a mortgage of $620 I will realize $500 monthly cash flow.

If I refi then only $200 cash flow.

What I am looking for input on is if there are more investment opportunities with $60K than $18K.

Sounds like a no brainer to me too but...

Still not enough to pay cash for a property and with $18K I can do Conventional

(5% down owner occupant) or Hard Money Loan. 

With $60K I can also do Conventional and Hard Money just more comfortably but add to it the opportunity to do a 20% down conventional and not move from my primary.

Should I keep the greater cash flow or move forward with the $18K and house hack a couple of properties and build up to being able to purchase with cash in the future.?

My overall plan is to replace enough of my income to leave the 9-5 stress but in my area there seems like more profit from flips then rentals. I figured I would decide which way to go as I find properties.

Thanks in advance,

Lee