Would a cash-out refinance to free up equity and keep growing be a smart move, or should I focus on paying down my existing debts?

I always a little under my target amount ( a month interest and half the cost of the attorney) so they can negotiate. 

Feel free to reach out if you would like more information.

Typically starting with a smaller rehab budget of $50K or less (maybe a max of $75K) and avoiding a 1 to 1(or higher) ratio of purchase to rehab costs is recommend when you are first starting out. 

This will allow you to mitigate risk on the first property but also allow you to do a cash out refi on the second, so now you have access to tax free cash that you can do with whatever you please.

Also your permitting process, type or land, grade of land, if underpinning is required will all play a factor into your cost. 

Pyment is $1,054, but $625 is interest.If you sold current house and bought new one with same mortgage amount, but current interest rate of 7%, the payment would be $1,663, interest amount $1,458.So, the interest cost difference would be $833 month!

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

I have found that they worked really well when it comes to getting better tenants and better rents, and having less hassle, less headaches, and then getting a higher sales price; without paying closing costs or realtor fees.

I've done this on one house in order to cut costs - since then, I've added a meter with the utility company but it's a good workaround for the short term.