Cash flow is the main goal!.

You can do a ‘cash out’ refinance on the rental home as a permanent fixed 20-25-30 year loan to pay off the Heloc on the primary and most likely the equity line on the primary permits a ‘re-draw’ to utilize again. 

Cash.

Doing a cash out refinance to recoup invested dollars is more difficult due to home values not increasing at 15% YoY.  

@Andrew BrownI'm in the Reno Tahoe, Nevada market and we have tools that rate every property in our local market for cash flow potential.

…They simply have to buy as much or more than they sell for (after closing costs) and reinvest all “cash” they receive. 

Did you make your millions from cash flow or appreciation?   

Or do you go for cash flow only?

If that's your goal, you want 6-7 homes that make great rentals - low costs of ownership & maintenance, high ROI relative to cash in the property, easy to rent, etc.

When they don’t share the numbers proudly, it is usually a negative cash flow situation.