And what did the property appraise for currently?

I own about 16 rental properties. 

Keep leveraging your knowledge of local opportunities to acquire your first property and expand from there.Financially, reinvest your earnings, and make sure you have a solid grasp of cash flow and expenses before making your first purchase.

If I purchase a property with cash, can I still obtain a mortgage later?

Quote from @Landon Lehmann: If you cash out equity in a property, you are "borrowing" that money from the lender.

Find a neighborhood you like, find a house you like, buy it, and hold it.Focus on learning to analyze individual properties.

If you had a paid off rental house, and others with mortgages, and you wanted to use the equity in the paid off rental for a cash offer on another property, how would one do that if the DTI ratio doesn't work due to having too much credit utilization with the addition of the new loan.

I could also take a loan and buy multiple properties.

I still own the property, but it is on the list for a 1031 as soon as one of the tenants moves out.

The property was then rented from 01/2020 through today's date.• A condominium was purchased by Person A on 11/1986 for a property value of $52,700.• On 11/2015, the condo real property was quit claim deeded by Person A to Person B as a joint tenant with rights of survivorship and Person C as a joint tenant with rights of survivorship.