I'm keeping the rental income liquid as emergency money until I get to a certain level, then I'll transfer it to investments - and I have some easily accessible cash to manage any big issues that come up with the property.My question is - I plan to buy two more similar duplexes next year and repeat the same process.

It depends on the capital you have available.If you have 200k cash and put 10k down on the property in Memphis then overall a small percentage of your liquidity.

Upon reviewing your bank account, you would have very limited liquidity left post-purchase.You have another multi as well. 

When you see the contract, there is no specified rates, just that they will apply to cards on your behalf.After liquidation(converting credit to cash which costs you 3%) my rate came in at the full 24% instead of the 0% that they advised me on.  

I wonder if you can spray-prime the mirrors on the ceiling and paint.

Have enough liquidity to be able to buy partners out when things don't work out.I am on the opposite spectrum than the DIY with no partners.

Typically this is going to outpace cash flow by quite a bit, but because of the lack of cash flow, you have to retain liquidity to handle any major expenses that come up.For instance... if you BRRRR a $75k home that rents for $900/mo and refinance all but $10k back out your probably looking at about $4,000 in cash flow over 5 years if you have a vacancy or two.

I don't want to sell to get liquid either.Best,Michael

Look into tax delinquent properties, pre-foreclosures, probate, bankruptcy Chapter 7 liquidations.

This depends on how quickly he wants to grow his portfolio.Its always great to be liquid and use the money to make more money.