If you ever have the time and feel comfortable sharing your experiences and tips, I'd be happy to buy you a coffee.

Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

Those that cannot weather the storm get wiped out.Having cashflow positive properties provides a margin of safety you just do not have with negative cashflow.Why are you focused on buying in your backyard? 

I work with a ton of new investors as a realtor the #1 way to get started is just find a 2-4 unit in decent shape and buy it low down with conventional financing 5-10% then you can live in it for a year and do another next year.

Right now in DFW area it is probably cheaper to rent then to buy. 

However, if you intend to work with a hard money lender or utilize a short-term loan product, you're on the clock for repayment, which can be stressful if things go sideways. 

A solid lender, contractor, and property manager can make or break your first few deals.What strategy are you leaning toward first—flipping, BRRRR, or buy-and-hold?

Does anyone have experience with buying rental or STR property there or have a connection there that I could speak to? 

I'd appreciate the chance to buy you a drink and pick your brain.  

thats basic list one can add.Value add /  New construction / land entitlements/ Timber / Minerals/ Lendingetc etc.. far more ways to actually make money than just buy and wait for rental income to payoff debtl