Cash out refinance SFH to buy MFH?

[Jack B.]

It seems to me the best way to keep reaping the benefits of the appreciation of SFH in Seattle but get into MFH's out of state in cash flow markets is to cash out refinance the single family homes that have seasoned and put the money into apartment complexes. This way I get the cash flow from apartments, but I still own the houses and they are still appreciating regardless of how much equity I have in them. I have a few houses that have seasoned nicely over the last 3-5 years that are ripe for this. The ones I bought this year are still seasoning...

Of course there is the risk of the market turning all of a sudden, but I do not believe it will other than a mild correction in 2018/2019 due to a short and mild recession. There should be a larger correction years after, based on the economic indicators and trends.

Or are there other risks/benefits that I'm missing? This move seems like a great way to accelerate my investing.