Rinse and repeat.

In today's market conditions I would be very careful going over 75% ltv without a solid business plan.The power of brrrr comes from the repeat where you roll your recycled or new capital into the next deal.

Also please remember that you won't be able to increase rents more than 7% + CPI here in OR, which may affect your cash flow initially until you are able to bring up to market rent. 

Maybe try this for few months and see how cash affects me?

I'd love to hear how market conditions in Waco have affected your ability to execute your business plan. 

If you know the market intimately and are confident in the true market value of the specific properties themselves this may not affect you per se, but if there’s any question on pricing, it would benefit you to work with a local expert to establish fair market value with a CMA and also getting an appraisal done (if you’re working with a lender they will require this anyway).

Then I’ve repeated this 3 times.

I am by no stretch of the imagination an expert, and I'm sure there's missing info here (what do your credit scores look like, what's your DTI look like and will it affect your ability to qualify for future financing, do you have additional credit to make use of, etc.) 

@Corben Briggs sorry about those last two lines they are repeats, I couldn't see them.  

So a state, county, city on a recovery can jack up the property taxes to a point where it affects your STNL tenant in a negative way.