Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

Hey guys,  Im thinking of shifting my traditional checking/saving account and mortgage to a manulife one account which my broker has suggested so I can be ready to pounce on a house and properly conduct the yellow letter direct marketing offering cash when they want it. 

It is a duplex near scranton PA. the Mortgage is about $2,400 and each tenant pays $1,550 monthly in rent so I make about $700 in cash flow monthly.

Purchase price: $630,000 Cash invested: $150,000 STR - airbnb/VRBO cabin in the Smokies

I am not against LTR but would like a higher cash flow property since my wife and I are already in our early 40's.

Purchase price: $305,000 Cash invested: $25,000 Residential single family residence rental.

Sometimes it makes sense to sell if the numbers don't make sense to keep it, there is better use of the equity, etc.Alternatively, could you do the cash out refi and build an ADU?

I spoke to another guy at a conference who used to build 1-3 units before doing commercial and he said he wishes he still did the single family because it generates a lot of cash and is pretty simple. 

I have seen loan products that will let you purchase a mixed use property to live in the residential unit, but that is a specific product and you should consult and expert to see the best option for you and your cash on hand.  

Even with our high mortgage cost, we are cash flowing !