That being said, you don't necessarily need to have the next property lined up to see the value in extracting the cash ahead of time especially as rates continue to rise. 

Though, there is no doubt that a significant and shift has occurred in the latter half of 2022, primarily driven by the fastest-rising mortgage rates in decades.Single-family prices in Austin are still well above their pre-pandemic levels:If you’re a buyer, then you can expect some sellers to take a break over the holidays and into early 2023.

Their mortgages are fixed and they haven't lost their job yet, the rise in new mortgage have no affect on older rates); I don't expect a crash will result?  

Great considerations. 

However, the market is looking really promising in general in terms of appreciation across neighborhoods for the foreseeable future for a lot of reasons (neighborhood growth, steady population rise, pockets close to downtown that are still underdeveloped). 

Whether big or small, these factors should always be taken into consideration before making an offer.

.- Participate in areas of the U.S. federal tax code that are considerably more favorable than the ones I’ve been governed by to this point as a W2 employee.- Network with like-minded investors and learn something new that stimulates a part of my brain that I don’t often use at my day job.- Make a positive impact on my local community.Thanks to the BiggerPockets community for the great information and support!

These are good considerations.

.- I think that sometimes investors get so caught up in the cap rate, other more important considerations are lost.

As it is, I will likely not truly cash flow (taking operational expenses (10% of monthly Rev.) into consideration)