Equity first comes in the form of down-payment, but you can also force it into existence with rehab or wait for it with appreciation.This is why it is so important that you re-invest your cash flow into more equity.

The new property has to make $50k plus $12k/yr more than the existing property just to break even.

To minimize time the property is vacant, have the Realtor coordinate with the existing Tenant for the last 30 days of their occupancy for showings so you have the best possible chance of securing a new Tenant without a break in between.I would love to know some of the details of your property, and do a rental rate check up to confirm you have the right price. 

Quote from @Andrew Steffens: I am curious what products exist?

Problem is it doesn’t exist as a “public” offering.  

It will allow you to roll existing retirement funds into the 401k (save Roth IRA) and self direct those funds.  

Also, nightly stays should be adjusted based on your specific pricing strategy as well (e.g. longer stays further out, shorter as dates get closer or gaps exist).

To get to the ARV of $250,000 , I am assuming as follow:Because you spent $15,000 in renovation, I am assuming you increased the Initial value of the property at 30,000 bringing it at $230,000Add a 8.69% home appreciation for one year $20,000Estimated Home Value After 1 Year:$250,000Refinancing Breakdown:New Home Value (Post-Appreciation): $250,000 New Mortgage Amount (80% LTV): $200,000 Existing Mortgage Balance after 12 months: -$158,035 Assuming 3 Months Interest Penalty for Breaking Existing Mortgage: - $2371Total Cash Pulled Out: $39,594, allowing you to recover to pay a portion of your initial investment of $63,548, leaving $ $24,015 in the deal.Many new investors mistakenly believe the BRRRR strategy ends after the cash-out.

Go out and start making your future come into existence. 

Looking for spaces in existing or new communities coming up in and around phoenix, dallas, austin, raleigh, irvine, charlette, san diego.Imin austin.