If you want a specific CoC return @Justin Fox gave you an easy way to set a CF goal.If it were me, I'd figure out my goal and throw the relevant data (rate, appraised value, LTV, Op Data ect) into excel and have a data table show me what my CF looked like under different circumstances (ie. varying combinations of LTV and desired return) Then, assuming I had its modeled out, I'd do the same for IRR. 

As my wife and I explore real estate investing and try to put our passions into action, I sometimes feel discouraged and as though there is a large veil between me and my goals that I just can't break through...

Our goal is to house-hack, just need to find a decent deal on something and that could take some time. 

Seems like the goal is to tap the equity so you can buy more so this last option seems pretty good to me. 

If you don't know the lease status yet, this would likely be step #1 for you.Depending on your goals for the home, having tenants in place may be a positive for you since tenants scare away some buyers, leading to less demand.

It all depends on your goals.

It is good to know there are property managers out there besides Elite, seems like we did not get even a call back from others, our end goal is to own 80-100 units, then turn things over to property manager. 

My goal is to own quite a few flourishing properties in order to have financial freedom and eventually move towards part-time teaching and more full-time investing and looking after my properties!

I think it depends on your overall goals/objectives.

I think the goal is to determine a long term strategy.