I'd recommend looking at some additional strategies that we post about in the marketplace.

What would be the exit strategy?

This is a difficult and aggressive strategy, and it means you'll spend much more time upfront finding the deal; this goes without mentioning the risk of doing this while managing a family life and a busy job.First step is understanding if that cash-out refi is even an option. 

Do you still see the traditional house hacking strategy working in the DFW area even with higher rates?

@Sara HabtomJ Scott's book pair about flipping and estimating flips was pretty comprehensive and no upselling.Amanda Han's two books on tax strategies were also pretty good starters. 

Those strategies DO NOT WORK!!

Your exit strategies could vary from doing a lease option, selling sub-2 and still maybe getting your equity paid over time or cash out and 1031 into a property closer to where you are going..maybe buy a multi family and hosue hack it...Let me know if you'd like to discuss further, Best of Luck!

I'd make sure you're able to run this strategy before diving into it any further.In the event you are able to run an STR where your properties are, I'd consider hiring a property management company that is a strong operator.

Duration of campaigns, list building, investment $, follow up strategies ....aka all your secret sauce ha 

Any other strategy would you recommend on that budget.