I realize this is a super basic question and more info might be needed, but I wanted to see what you all thought: Do I pull out the cash from the refinance to continue to fixing up the property or do I use the cash to put a down payment on another unit?

What percentage of  tenant income do you figure  is needed  to best  insure monthly payments ?

If you have owned them less than 12 months and they are not on the tax return, then generally they will use 70% of the lease amount as the "income" netted against any mortgage payments. 

3) Would you say basic relatively cheap and quick projects listed above give your listing an extra edge on the market and fetch a higher price.4) Would you recommend a established reliable service like this to your future clients. 5) Do you use a third party to take profession pictures or even UAV (drone) images/Videos of houses/properties you are selling.I am a General Contractor.

Like you said, @Jay Hinrichs, there's a lot of low value properties in certain areas here, specifically Milwaukee county, but the suburban areas could be a gold mine for an agent, and I know several that do very well.And these are both cash strategies for me, where my money will go as soon as I'm making it is into rental properties, and I currently have different savings categories, with one being the down payment for a first property (assuming I don't find a convenient sub2 or seller finance before that).Thanks again everyone, and happy investing!

They require a large down payment, but there is no other underwriting.

What I would like to see happen is save some more and then put a down payment on a cheap house to hopefully fix up and either live in or sell for a little profit.  

I am planning on using heloc funds for down payments.

As the mortgage financing industry is constantly changing and so are certain requirements, can anyone share what the lowest down payment percentage they needed for an investment property was?

You could also see if the buyer will possibly qualify for conventional w/ a 5% down payment, which would allow them to get a new appraisal.