After you have 4 mortgages, it's almost impossible to cash-out refi an investment property with conventional loans unless you're using delayed financing rules on new purchases.

Also have pre-approval for financing at 20% down from conventional bank as it's only my second active mortgage.

I would be happy to discuss the current market and housing inventory.

- The freedom to depart from the facts of a matter or from the conventional rules of language when speaking or writing in order to create an effect.It was the number 1 book recommended on BP podcasts:http://www.biggerpockets.com/forums/311/topics/114495-every-book-ever-recommended-on-bp-and-times-recommended

Morgan, you are correct in your thinking, it really depends on market demand and inventories.

With the decreased inventory we're trying to stay busy but don't have experience with additions.

@Chad McIver You gains are not "capital gains" rather they will be treated as ordinary income, meaning they will be taxed at your marginal tax rate.The tax law basically states that if you purchase an investment with the intent to hold either for cash flow or appreciation, then profits on sale will be treated as capital gains and taxed at the capital gains rate.But since you are flipping a house, you did not intend to hold it, and will therefore be treated as inventory and taxed at your marginal rate.Also, as far as I know, you cannot roll over your gains on a house you did not intend to hold as an investment (i.e. a house you flipped).

Legal, local conventions, etc.

Which we could afford individually with conventional loans for 5-10% down.

Idk if it makes more sense to get a conventional mortgage or use the equity in the house.