Its a matter of what is your strategy and goal.If you really think that house free and clear will cash flow enough in 12 years (after all the income and expenditure risks) to make you financially free --- well that's your plan.I think most of us are saying its just pretty gutsy at your age. 

So, my monthly cash flow is $200. 

Cash flow on day one!

Are you at $330/mo cash flow in 2 years?

But the buildings we have are good appreciation and good cash flow overall.

This increases the property's value and can allow you to charge higher rent, improving your cash flow and the property's appraisal value for refinancing.Rent: Lease out the newly acquired and rehabbed properties, preferably to reliable tenants similar to the family you currently have in your townhouse.

Austin has a great RE investing community and tons of great meetups (however, still hard to make deals work/cash flow due to prices in the city). 

I will like to start off with a town house rehab and rent for cash flow.

I am a HVAC technician in new york, and recently came across the NYSERDA clean heat program incentivizing the installation of electric heat pumps.

And I'm now closing on another duplex directly across the street.You have to find markets with higher price:rent ratios if you want to BRRRR and still have positive cash flow after a refinance.That said, I'd be happy running a net cash flow deficit if I was able to BRRRR more capital out than I put in.