If dipping into your emergency fund makes you uneasy, you might consider waiting a bit longer to build it up or look for ways to increase your cash flow on the current property.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

Materials have increased more than 20% in the last 5-8 years.

@Jadan WilliamsIf I were in your shoes, I’d start by clearly defining my investment goals and identifying target markets with strong job growth, population increases, and development potential.

If you have extra cash at the end of the month, then do double up payments on the mortgages so the principle is reduced and this will increase your heloc room.

The house is in Woodforest though so rentability might be lower as well increasing vacancy risk due to high rental costs. 

Keep in mind that they can increase that period if they get complains from the community, so make sure you're in good relationship with your neighbors.

Washer/dryers are often abused, so there's the initial cost of purchase and the risk of increased repairs.

All this makes for great guest reviews and helps increase revenues. 

Additionally, confirm the transfer won’t lead to property reassessment, which could increase taxes.