But what you have right now is this irrational desire to BRRRR and those that are attracted to it tend to be newer investors with limited capital and want to get started and scale fast so they want to use their cash replenish and repeat.. this opens up huge opportunities for those folks who understand the mind set to step into that niche and some of them are just not good actors .. its pretty much daily you see a post now.. about don't work with this guy don't work with that guy.. and the one thing that ties them together is generally out of area investors trying to do 50k rehabs for 20k because the wholesaler told them that's what it would cost.. and come to find out its does not work.. and or the contractors are terrible and or flat out steal the money.  

I will raise reserves to 9 months fixed cash on each, plus 1 month variable(equities) & replenish any capex account that has been touched.

What did not continue as normal was the replenishment of that population with young individuals moving into DC to take 1st jobs and internships, since so many businesses were closed, went virtual, and didnt hire on that low level employees and interns. 

I have a down payment available for a modest purchase, but cashflow alone wouldn't replenish that quick enough to purchase again within 1-2 years.  4.

Keep replenishing it, once a year.  

If you are planning to hold the new property without refinancing to replenish the equity you put in for some sustained period, then you may want to consider the fixed rate loan (I would probably call this a second mortgage, but potato/potahto, right?). 

You would have to grab some of the 401k, but you would be able to replenish it easily with how much money you make. 

In short this could replenish inventory while I can continue to educating myself on more effective marketing.

Also, have a sign marketing plan, where you are putting up 50 signs every other weekend (you have to replenish them, since they are taken down.

@Brooks Gagnon- thanks -  great  question and lots of  differing opinions ....I think this  depends on  several variables  1) plans for the future ...buying more ...needing to rehab  etc ....2) ROR on the  funds  you can park somewhere   3)   hard money  pricing / cost / rate and  duration .....in general - as  hard money loans are normally short term loans - I would prob recomend using your own funds to get the  deal in place and then  either  refinance it  to replenish the funds  or sell the  proeprty for a gain ......if you  are able to  carry the  financing longer term   or get  more conventional financing - using OPM  might be a  better  choice - good luck