We're having trouble figuring out how to best leverage our assets, and where to get started with our first investment purchase.So once we're moved into our new house and rent out our old one, here's where we'll be at when we're looking to invest in another property:- Austin house equity (where we will live): $180,000 ($544,000 value - $364,000 owed)- Suburban rental house equity: $178,000 ($372,000 value - $194,000 owed)- Suburban rental house cashflow (after prop management, capex, etc.): $100/mo- Remaining personal loan for home improvement: -$50,000 (8.4% interest, needs to be paid off ASAP)- Cash to invest to start: $0 (all cash has gone toward the high-interest loan- Future salary income available for real estate: ~$500/moWe want to start with one additional property and build our portfolio with more properties over time. 

A lot of them just do not understanding leveraging. 

If it’s your skills in renovating a house, great; if it’s your skills in marketing and hospitality, fine; if it’s your vast amount of money, that’s good too if you can leverage it into multiple loans, but different skills have different values and they bring in different amount of ROI.

Over-leveraging is the #1 downfall of small/new investors. 

Buy your second investment home with a mortgage (20% down) like you should be doing, then save your cash for your "dream home".You want to leverage your investment properties because the source of funds to pay the loan comes from the tenant's rent, not your pocket. 

Given the length of time and your investment strategy, that will determine whether its worth it to refi.Determining whether you want to continue to leverage is really dependent upon your investment strategy and finances. 

That is a subjective number, only you can determine that.I personally don't consider a property a good rental if it does not cash flow well (minimum of $350/month for sfh) while fully leveraged.

Most often they are able to underwrite to this because they are using high leverage.  

@Jonah CervantesZero down can work but you are going to be heavily leveraged so you have to buy right.You should shoot for a price where you have 15-20% equity on day one.If you're in a multi family, half of the units rent income should make the payment.

Just got it, so next steps are to clean, organize and then list.