I'm all about equity and I think it is OK to not have cash flow, but you need to have a plan to continue paying the mortgage if things get tough.

., so even if list price, cash is offered, another term might not work, so likely no way to hold a seller to sell until they actually sign an offer.

Using the BRRRR rental calculator, I am trying to figure out what the cash out would be? 

I live in one and rent the other for $400 cash flow.

I paid cash, I received my deed in about 2 weeks, and I’m paying taxes on the land now.

Will be a cash purchase.

I am unsure if they are a good investment, but I am leaning towards yes, I don't have anyone around me to ask so I decided to come here.House 1. rents for $825/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $275/m after mortgage payment are made.House 2. rents for $600/m the loan will cost me $13,000 as a down payment and $6,000 closing costs, and should cash flow approx $50/m after mortgage payment are made. 

is there a way to cash out refinance 2 properties I own?

Lucy,  I would need to know the numbers to say, and whether this is a cash deal or mortgaged.I had looked at College Station myself, but concluded that it does not pencil out.I own a SF house in an upscale area of McAllen, TX and a quadplex nearby.So far, TX has been my worst market - property taxes just ruin the cash-flow.  

Rates are higher than they've been and it's harder to find cash flow.