seriously guys, look into cheaper ways to buy. using the funds from a re-fi from one house to buy more than one new house is growth. growth is what you want to do. make your money work as hard for you as you can. finding houses that are dirt cheap is the answer. there are several ways to buy real estate that are nonconventional.
several years ago, the federal government restricted the number of foreclosures a bank can put back onto the market. consequently, that forced the banks to hold onto the less than desireable foreclosures and market only the best that they have. that added to the carrying costs of the remaining houses that they could not market. finally, they had to make a decision; hold onto those houses until they could market them, or dump them in light of loosing the carrying costs. most banks chose the latter.
so, now, you have thousands of houses that the banks just dumped back to the previous owners by filing a release of lein with the counties that they are in. legally, you have a house that the bank no longer has a claim on, and the previous owners either do not know they own it again or they don't want it. there is potential for a hell of a deal.
i bought one for $2000 on a tuesday and sold it for $10,000 on thursday. i also bought one for $2250 and picked up the back taxes for $4000. that one i am holding onto to rehab and will be worth $50k when i am done.
tax sales are a great place to pick up extraordinary deals too.
your problem is NOT on your cash end, its on your buying end