Richmond continues to be a fantastic market, and a good duplex is one of the few ways to still attain cash flow, considering current prices and interest rates. 

I do have another property with some equity if needed in a pinch where something went wrong but I dont want to cash out refi that property yet as rates havent went down and it has a 5.6% fixed rate.

We estimate that we need roughly 9 more properties that generate $300 / month in cash flow to meet this goal.Currently, we are a single-income household.

Since the remaining tenants have still been paying, I'm not sure that I can treat the MIA tenant as absent.Let's say the remaining tenants decide to move out (probably because they will eventually have trouble paying) and I make the refund check payable to all the tenants per the rental agreement (and to protect myself against claims from the MIA tenant), but they can't cash it because they can't reach this third roommate.Any recommendations on what to do with the money or what course of action to take?

I've got the cash to buy it outright, then let him live there, rent out the other bedrooms to classmates, etc.

Yes, it's a benefit for me as well, but it's an opportunity for them to put lazy cash to work.

I do have another property with some equity if needed in a pinch where something went wrong but I dont want to cash out refi that property yet as rates havent went down and it has a 5.6% fixed rate.

I do have cash flow from my current job however, I am recently married and about to become a dad in a couple of months.

I am looking at more LTR of SF, MF or commercial properties in markets that cash flow well.

Does this affect a cash-out refinance or pulling out equity in the form of a HELOC/equity loan?