And then do a cash out refinance of the debt free property. 

I'm going to follow this to see what tips folks provide.MikeHey Mike, I am actively investing there so feel free to reach out with any questions!   

Great FREE advertising!

-- We focus on verifying 2-year work history and verifying rent payments with last 2 landlords (unless in same property for 5+ years).3) MoveIn Specials: be careful with offering "free rent" as will just attract tenants with no cash.-- Try free TV or something else worth 25-50% of one month of rent.-- Or, what we do is offer the free rent AFTER & ONLY if they pay their first 3 months of rent on time to earn it.4) Lower the rent 5% every 2-4 weeks until activity picks up.5) Understand this is the worst time of year to find tenants.-- Starts picking back up end of February when this tenant pool starts getting their income tax refunds and aren't broke anymore.6) Section 8: where is the property being advertised?

Given that birds of a feather flock together, I think you're looking to live almost-rent-free whilst coining it on appreciation.

- Why would you expect a well-run, profitable PMC to work for free handling maintenance? 

Happy to connect and knowledge share if you are interested.

They can't work for free forever until you have a property ready to be rented. 

I've built a small-ish house so have a small knowledge of that community and mindset.

I really believe that we live in a time where all the information you need to do just about anything is available for free online.