You can also use some low-down payment mortgage products to continue buying in your back yard while house hacking and renting to others. 

We are in a constricted market cycle, low volume, strained budgets, high costs.

They also tend to offer good cash flow relative to their cost, especially in areas with high demand for affordable housing.

So if the house is worth 300k and you owe 200k then most you could pull out would be 40k (minus costs) and it would be a second mortgage most likely which would be expensive. 7.5-9.5% likely.But, you can put as little as 15% down for a conventional loan on a single family.

Don't forget, you’re going to be out 10%+ in closing costs so you’ll walk with zero cash and pin your hopes on them paying you 20-30 years from now if that’s all they put down. 

Additionally it can often results in multiple additional tax filing requirements riving their tax filing costs up unexpectedly. 

I used to manage my SFR portfolio but turning it over to a good PM was the best thing I ever did.Your indicate PM will cost $1000 a month in cash flow.

. - WRT income, at a minimum it has to cover all of your costs plus some for unforeseeable expenses.  

The market has been on the upswing with low interest rates since 2012. 

if you miss your rate lock timing and it costs you to relock who should pay for that?