So depending on if you are using it personally and want to have it pay for itself or you just want cash flow will help determine where you should look and what type/size home you want to consider.Please reach out anytime and let me know if I can be of help.

He also just released a book called Wealth without cash.

If the permanent financing will allow you to recover most of your initial investment and the fair market rent covers the principal, interest taxes, and insurance with cash left over, you have a BRRRR.

Another idea that we have been exploring is using the cash value of whole life insurance funds for emergencies. 

Do you guys use hard money lender for a rehab or use your own cash?   

If you have 1-4 unit residential that's already cash flowing I would go DSCR if you have a ratio of 1 or more.

Purchase price: $840,000 Cash invested: $75,000 Sale price: $1,200,000 Full renovation of all 4 units.

I would, If in this position, take the equity in the form of a HELOC and purchase a cash flowing asset that would not only pay for itself but pay for the cost of the money while putting cash into my bank account each month. 

Is a second mortgage (heloc) or cash out refinance a better idea?

Those remote flips and high cash flow rentals are so tempting on paper, but they rarely go well in reality.