It's tempting early on to leverage as much as you can so you can do more deals and keep liquidity, but increased cashflow especially with PMI will make you sleep a lot better at night.

Longer Tenure in HomesData from the National Association of Realtors (NAR) shows people are staying in their homes for a decade (see graph below):This increased tenure means homeowners benefit even more from home values growing over time.

(Previous rent was $1,300 but we're about to put in a brand new kitchen from the studs, new flooring throughout the house, new furance, adding A/C, etc).So do we just pay for it all upfront and mostly drain all of our savings, or do I let the rent pay for it and utilize our other savings to get a second property this spring/summer to increase our cashflow? 

You would have to be significantly cheaper than my current cleaners for me to give you a shot, because I generally have only changed cleaners for either consistent subpar work or increasing/unreasonable prices.

The market is crazy right now and will be for the next 2 to 3 yearsdue to inflation devaluing the dollar, inflation increasing newbuilding costs.

This will increase the likelihood of getting references of other off market deals from both of them in the future.

Other most common factor: Family Size increases due to marriage or having a child. 

I've been gradually increasing rent.

The property has a 3 car garage that could be rented to tenants to increase ROI. 

This is a very valuable skillset to have in your arsenal as an investor that can dramatically increase your net worth in a short period of time if the strategy is applied correctly.