My suggestion if your goal is to free up some equity to use for another purchase - start small with the single family home with a cash out refinance.

Since you purchased your primary recently and in Houston, I personally am bearish on your appreciation potential.

I even purchased his cash flow board game to play with my family.

I started purchasing a small multifamily in Columbus, Ohio 2 years ago.

I frequently hear that someone purchased a new property because their real estate agent told them they could get X amount for rent, when in fact, the market comps don't support that amount.

So, you go over budget FAST.So, your Scope of Work (SOW) MUST be very specific as Mr Perez learned when contractor didn't put in new outlets.To "perfect" your SOW, suggest you walk the property with 3 contractors and ask them what needs to be done.

You can find some 2 units under or around $250K but they have been sitting on the market for over 150 days which tells you its not a great deal if it were an investor woud have already purchased it 4 month ago.  

Yes, they are getting higher than market rent for that specific Neighborhood, but they also have a hard time finding a S8 tenant that wants to move into and stay in that Neighborhood.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

Purchase price: $465,000 Cash invested: $80,000 Checkout my Airbnb here: airbnb.com/h/madeirabeachoasisSalt Water Pool & Hot Tub: $60,000Tiki bar with electrical hookup: $3,500Mural: $1600Interior Furnishings: $6,500Exterior Furnishings: $1,500Monthly gross booking revenue: $8,000-$12,000