When you say you want to prioritize cash flow over equity, you want to watch out for people honing in on that and selling you "good cash flow" deals which will be in D neighborhoods and will come with high capital expenditures and harder tenancies.

Obviously the answer is yes when it comes down to the cash flow, but I am particularly wondering if HCOL/high property tax areas are places you would cross off the list entirely.

@Rajesh Kasturi My favorite MTR market for cash flow AND appreciation is Portland, OR. 

To be more specific about what i'm looking to do: My 1-2 year goal is to employ the BRRRR strategy with SFHs and Condos by buying distressed / highly undervalued properties that need work (preferably all-cash) in low crime areas with strong rental demand, renovate them within budget (again preferably all-cash) and get them rent ready before refinancing them at the highest ARV possible.

Sounds like a cash out refinance would be the best way to tap into that equity. 

.- Do you have 200-250k cash, or is that what you can get with your loan amount?

:)  Is it still cash flowing after the refinance?  

Just this month, I’ve gotten under contract for my clients for multiple 20%+ cash on cash rental properties so there’s definitely tons of opportunity here.

If the insurance isn't done properly, it's on the edge of impossible to cash the check because it's made out to the lender, my company, and the seller(s). 

If you buy in a good market, appreciation will beat cash flow every time.