You have areas where property taxes are going up too fast based on the over valuation of properties  ( tax on unrealized gain ) .

The properties also have appreciated very well, and we currently sit at about 55%. debt to equity ratio.

They had four properties they owned. 

Section 8 is harder to do as the prices of properties have skyrocketed.

This morning I went to wire in funds for my clients to buy a property in SC.And because it was an assignment contract to ME as the buyer..

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.