Since I found BiggerPockets and the Podcasts, I have already learned so much and want to continue to learn and research while looking for my first rental property.

Thanks for the continued support, Emmett, and congrats on all of your success and growing family!

It is purely a diversification play for the retirement plan, with all proceeds flowing to the retirement plan.An IRA may not lend to you personally.  

And if you play your cards right, your rental could possibly pay both mortgages!..

This will play a factor in your long-term success.

Segment geographically and by other criteria such as equity.Less than 5% of people who nail continue for mire than a few month and poop out so consider that before committing to buy an annual subscription.

I realize this is a super basic question and more info might be needed, but I wanted to see what you all thought: Do I pull out the cash from the refinance to continue to fixing up the property or do I use the cash to put a down payment on another unit?

Looking forward to continue learning about real estate.

If they continue down their current path they will end up homeless and their credit will be destroyed for years.

Continually look for ways to improve and track the results.