Getting started on my journey. Highly motivated

[Mario A Casarez]

Hello everyone.  I'm new to Bigger Pockets.  I'm from the So Cal area and came here because I'm currently reading Brandon Turner's Rental Property Investing book (after reading his other book on investing with little or no money).  My family of 3 live in the townhouse I purchased at the peak of the craziness of 2005.  I finally have equity on the place and so we decided we wanted to buy a house in 2020.  Our bids never got accepted on the 10 properties we liked (even when we were the highest bidder with 20% down and excellent credit!!). We're glad those doors were closed because it allowed me to try a different game plan.  

My wife and I decided we want to get into rental property investing!  Like i mentioned, I'm reading Brandon Turner's book (currently on Ch 3) and the more I read it, the more i know this is what I want to do.  

My plan so far is to find a nice home to renovate and live in while we rent our current townhome.  Or Vice versa!  Also, i'm wondering whether refinancing the townhome we currently live in would be a good idea in the event that we rent it out and we'll have a lower mortgage payment and bigger cash flow due to the amount we'd be able to rent it for.
I'm hoping the book i'm reading will assist in answering that question, but I also want to hear from people on this forum.

Please, send any tips, advice on where to look for the answers to those questions, and more!

Thank you

Mario