Have your ducks lined up in a row so you can pull the trigger when a property is presented to you and fits your criteria. 5) start building your team with local agents, property managers, contractors, title companies, insurance agents etc.The more specific and prepared you are on what you want, the easier it will be to build the appropriate team to make it happen.

@Bryan Taylor,You have to pull the trigger.

So I think I am ready to pull the trigger!

Pull the trigger.

I'm considering taking better use of that equity build up vs. letting it sit in the property but I already have ample cash on hand.I'm a little gun shy about pulling the trigger on the cash-out refi simply because, I don't need the cash, I hate paying closing costs, and I like to see the loans go down - not up. 

If it makes money today pull the trigger. 

Their money is probably going to dry up as the effects of the lockdown, moratoria and forbearance problems.

I told her we did the carpets 3 days prior and they probably aren’t completely dry yet.  

One thing to consider is if you can cover your PITI even if you have no renters before pulling the trigger.    

Reason is when you get qualified for the new investment loans they may want to have some cash reserve seasoning for the proposed PITI payments.If you can pull the trigger in the next couple months, you can pull the cash out and be in a really good position.