if so you will need multiple properties - don't believe all you hear about the cash flow in Detroit. 

Then over the course of the first year or so, if you could raise the rents by a total of $1k/mo (they are currently $2k, $1k, and $1k), then you might be able to pull out about $60k-$80k in a cash out refi. 

Rents have been pretty close to what the housing authorities advertise, sometimes even a bit higher.Fort Wayne’s a solid spot with low taxes and good cash flow—definitely worth looking into.

The capital required for Denver, and limited cash flow makes it a tough market to get your next one.

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV. 

my condolences on your recent lost.there are a few ways you can do this, as mentioned above you can take a heloc on your primary residence which will give you a second mortgage, first mortgage payment wont be impacted. you can do cash out refinance which will give you one mortgage and payment. it will pay the old mortgage and give you money in your pocket to pay for the rehab.or you can do a renovation refinance which is similar to cash out refinance but we would contractor involved  as part of the refinancing and they are paid through the loan

Are you generally seeing cash flow positive deals from day 1?

Do you prioritize equity growth or cash flow in your investments?

Additionally, Airbnb income during this period could generate steady cash flow, though market conditions and regulatory risks should be considered.

My total portfolio in this area I spent approximately $350k ($150k my cash, $200k bank carry).