We are trying to cut costs on the ones we are doing now, but still trying to keep the quality high. 

Just be sure to research your target markets carefully to maximize returns.

With careful planning and consistent effort, you can create a portfolio that aligns with your long-term goals.Good luck!

Without too much detail I had to quit my W2 job 2 years ago to care for my disabled son and my wife is still working.

There's too many investors who are front page news in Northern states re CFDs gone bad and Texas where lease options went bad and the state enacted buyer protections...Take care to all.   

Cut expenses and work, no way around it.

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

Also I understand the funds aren't available for the improvements so that is another obstacle that has me leaning towards price reductions to move on as soon as possible.The exit of lower tier SFH's is something very few investors care to consider when making their investments but deserves far more consideration. 

I’ve taken care of all my debt and am pre-approved for roughly $220,000.

Be very careful who you take advice from online, you should get involved with a local attorney and a local realtor.