If you don't have the extra cash, can you get creative with a private lender or partner stacked on bank debt? 

Hello Zachary,  You are correct in looking at the Mid-West for cash flow. 

Are you cash flowing the property?

I'm making a healthy downpayment cash by doing a cash out refinance on three of my established properties that I know can cover the debt service handily.

The modest cash flow could be reinvested, eventually allowing me to build a portfolio of income-generating properties.I recognize your point about needing $2.5M–$3M in cash to consistently replace a six-figure income.

You don't want to cash-out refi and then be sitting on cash costing you 7% while you search for a deal.

As you can see by the attached photo I am tracking current cash flow as well as what my cash flow would be if my properties were fully paid off. 

I have had 3 people email me this weekend who are over leveraged and also cash strapped in that they have repairs of $5k or more, o cash to repair and without repairing cannot release unit.

With substantial equity in your Fort Worth rental, a cash-out refinance could free up funds to purchase additional properties.

Any competitive DSCR program is going to be in the 90-day seasoning range for allowing a refinance based on the newly appraised value.Your 9-month seasoning should not be an issue, barring an extremely unique situation (like inheriting a property or having it gifted to you).------------------------------------• 0-6 Months (Delayed Purchase, no Rehab completed) - up to 80% of purchase price• 6+ Months (Cash-Out Refinance, no Rehab completed) - up to 75% of appraised value• 0-3 Months (Cash-out refi, Rehab completed) - 75% of appraised value [good rates]• 3-6 Months (Cash-out refi, Rehab completed) - 75% of appraised value [best rates]