Some lenders require a longer seasoning period before allowing a cash-out refi.

Can you elaborate more on the cash-out refinance?

Purchase price: $50,000 Cash invested: $50,000 My first investment was a three unit deal for $50,000 cash.

If you can’t increase cash flow or refinance soon, selling could be the right move.

Great cash flow on this one!

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I have always feared debt but I'm finding myself high on equity and low on cash flow.

I don't agree with your assessment on Tertiary markets as it relates to appreciation and cash flow.while some can be OK.. many of those markets are stagnate and those renting are certainly living month to month.. harder to find labor etc.

assuming you use all cash - and setting aside closing and holding costs for now - you're in for 150K. 

@Thomas Farrellmiscellaneous reactions-BRRRRs won't produce cash flow - they're an equity strategy, not a cash flow strategy-OOS BRRRR on your first deal will be incredibly difficult.