I think Ingleside is more established and might be more stable growth in value.

In high growth areas where apartments and SFR's are going up. 

it depends on your ultimate goals, but refi will allow quicker growth and more long term cf

That being said, it probably will be a good long-long term investment, but Buda has had much more control on its growth which has driven its prices up.

My partners there are doing very well for themselves and I still think Chicago is the best market for employment and growth

Nashville is growing and the city is planning on tremendous growth for the next 20 years.  

And taking the time and money to set aside to go enjoy myself now - which may delay that growth for a bit..

Based on the information above how would you maximize growth with the cash out refis? 

Ideally 3 plus multi-family units or small apartment blocks.Can anyone recommend areas which they believe have the most short to medium term potential for rental growth and capital appreciation.

As far as real estate experience goes, although I own a cash flow duplex in Austin I am still a newbie on the investment and growth side.