I really love this text.I love to read RE investment books, especially between patients and there is lag time within the hospital.

I'm trying to be patient, now that spring is coming I think as a buyer I will have more options.

I tried piecing together three commercial properties for an investor friend, but he wasn't patient enough to buy one, work on the other and so on.  

As long as you are patient and wait for a good deal, you should be ok. 

If you are focused and patient and know what you are doing then why reinvent the wheel.

I have tried to look into a HELOC; however, the great state of TX apparently has regulation preventing HELOCS on investment properties.With that being said, is it logical to cash out refi, resulting in a higher interest rate, higher leverage, and subjected closing costs, all for the sake to acquire an additional 20k in capital for the next acquisition, OR will it be wiser to remain patient and either save for the next property or find a different source of capital other than the equity in the home.

if you are patient, do your research, and do not get attached to any properties then there can be good deals When I say patient it took me 2 years to finally lock down a deal on 1 site

Why not be patient and wait for a better offer?

You said you have cash ready to go, but you need to be patient and take your time.  

Now in the fourth months, they have already 3 patients residendants and financially they are probably breaking even now.