What are my options?

[Brittany Dent]

I have one property which is a single family home that's being rented. I'm looking to buy/flip another property within the next 3-6 months. I want to purchase something that is really cheap and do renovations. Being that I don't have much money to dish out can I just refinance my current home and used that to purchase another one? Should I purchase something that's already renovated? What would be some ways of doing this?