I'm looking for ALL pros and cons of doing a cash out refi to get an additional investment property!

I have heard pros and cons from both sides of the fence on the topic of: starting small and working your way up / snowballing to bigger deals OR creatively starting in bigger deals from the get-go because there can be less risk (still risk, just less in my opinion). 

Pros?

She usually gets me 3 comparable policies at different price levels and explains pros and cons to each one.

I got much better at rental property analysis and pulling comps, talking to local RE-related pros, how to start learning about new distant areas, and many more.

Any personal stories, or opinions on pros and cons of velocity banking to pay off debts and mortgages?

Does anyone have any pros/cons to a house set up this way.    

I'm 23, will be 24 in June, not sure if that will make a difference but would like to provide as much info as possible to get the best responses.Any input will be greatly appreciated as I continue to weigh out the pros and cons of each option (buying another duplex or paying down the mortgage on the one I own currently).Respectfully,Conner WoodsEdit: My duplex is located in Lansing MI

Those are valid concerns when you are contemplating a real estate strategy and the risks associated with it.Let talk about the pros and cons with the BRRR strategy.

Thinking about getting my Real Estate license and wanted to put it out there to see what the pros and cons would be for an investor.