It's a more expensive market than the Midwest and the short term cash flow is lower and that is the trade off for being a few hours away in a landlord friendly state.

My goal is to not burn up all my cash with a down huge payment, but find other investors to partner with and share cash flow or equity, and keep some of my own cash liquid reserved for repairs/emergencies.

Don't do Cash out refinance that's a mistake.

Looking out for suggestions @Kaushik SarkarIf the equity in your properties is your only source for new investing, and the new property you are buying still cash-flow's with the cost of your borrowed money (from your properties), there is no reason to not use it as an investment vehicle.  

Opportunity to refinance cash out to buy more properties.

Based on the improvements and upgraded cash flow the NOI capped out much higher so I was building both equity and cash flow.

Purchase price: $290,000 Cash invested: $85,000Bought this 6 unit condo set utilizing a seller finance structure at 0%.

Are you cash flowing the property?

It's imperative to learn the numbers to get a realistic idea of cash-flow vs. selling. 

My main goal is to get to that "next step" and use these assets to leverage 5+ multifamily, apartments, or cash out refi's to spread out into additional SFHs.