I wouldn't wait for a sale, but I would underwrite my tarnsactions today with tolerance and be prepared to walk away if the math doesn't line up

My math is showing ~$370/month cash flow, CoC ROI of ~$16%.

Do the math on converting it to a 2 BD...extra rent less expenses / rehab = ROI. 

I'm not sure if this is the right area for this but I've been doing the math on mobile homes in retirement communities and it's blowing my mind.

I also know that there are a good amount of cheap houses that make rentals that cashflow great, and some that cashflow negative after paying property management and the like, just do the homework. 

Is it convenience, is it because they have not done their homework and looked closely at comps?

@Benjamin Piecenski thank you everyone Im completely new to all of this trying to get my head on straight and whats going to work out best for me when it comes to strategy and which route to go on the math still confuses me but I'm currently living with family have a good amount in my savings id like to build real estate investements with I dont have much bills at all very minimal and collect around 3k a month from work so I'm trying to figure out the best thing for me flipping houses?

Refinancing to pay off our primary mortgage has no upside.Refinance to buy another rent property.Let's do some math. 

I'm not a math whiz and it seems to make sense to me to do the below cash out refi but I know there are smarter people on here that can hopefully offer some input.  

Sounds like an intriguing project - but could be a big money suck without enough homework first.