buy and hold-how to expand

[Rigo V.]

Hello everyone, I am new to the site but very excited to get started. I am looking to get my first investment buy and hold property soon.

My question is how do investors who buy and hold properties manage to expand their portfolio's quickly? (3-5 years) 

To put some numbers to my question. I am looking at a MFH that has 3 units and selling for 199K. The 20% down payment required would be about 40K. It is a turnkey property. I expect that the property will net about 8k in positive cashflow per year after all expenses including property management. At this rate it would take me 5 years to be able to expand to a second MFH.

What can I do to speed up that time to lets say a year or two? Should I be buying homes that need repair so I can build equity with the rehab and cash out refinance for the next? How can I do it with turnkey properties?

-Thanks