Cash flow is nice and all but I am realizing that true wealth is built in equity!

A little background...I own a personal home with about $1.3m in equity, and I have about $750k cash. 

I'm currently finishing up a duplex in William Land Park, where rents will cover costs, but the value add and forced appreciation will give me $250k in equity.

I've got $1M in equity tied up in a rental property that I will sell around June '25 to generate liquid capital . 

DEFAULTS Tenant will be in default if: (A) the Tenant don’t timely pay rent or other fees and charges they owe; (B) Tenant or any guest or occupant violates this Lease, property rules, or fire, safety, health, or criminal laws, regardless of whether or where arrest or conviction occurs; (C) Tenant abandon the property; ....When Tenant is in default, the Landlord has the option to declare the entire balance (all outstanding balances including but not limited to invoices, rent, cost due to damages/abandoning the property) payable hereunder to be immediately due and payable; the Landlord may exercise any and all rights and remedies available to Landlord at law or in equity and may immediately terminate this Agreement.XVI.

I know you said they are high end rentals in good neighborhoods, and I don’t know where you live, but 3MM in equity with 25 paid off house means the houses are worth 120k each.

I have about $180k in equity in one of my investment properties and I have a nice amount of cash on hand and I have an idea that I would like your thoughts on.  

Primary residence has about 550k in equity in Southern California. 

Proper due diligence will reduce your risk, but it won’t eliminate it entirely.Personally, I like value-add opportunities because they build in equity from the start.

I'll refi in 12 months utilizing the built in equity plus what I earn this year to avoid a huge down payment.