My main goal is to get to that "next step" and use these assets to leverage 5+ multifamily, apartments, or cash out refi's to spread out into additional SFHs. 

Purchase price: $585,000 Cash invested: $73,000 Our first Airbnb Property, bought for $585,000 and has not appreciated much since we bought it.

Although I prefer multi-family because it cash flows better.

@Brock Mogensenno real 'cash flow' on that hypothetical deal, though, right? 

I am a Cash Buyer , Entrepreneur. 

Whether its a value add or a yield play, operations are the key to success as CAP is the result of  NOI and a sales price. 

Purchase price: $290,000 Cash invested: $60,000 Single family residence in an extremely fast growing community.

My goal is to at least have positive cash flow while I build equity in the investment property.Has anyone successfully purchased a buy & hold with this strategy?

I wouldn't be selling in this market personally, so if you don't sell the SFR and you really want to do this, a DSCR cash out refinance on the triplex, or a hard money 2nd is your only option to get the liquidity needed to make this move.

And then while it’s in the process you provide your QI will all the cash needed to finance the property.