Purchasing Additional Properties While Maxed Out in Debt

[James F]

Hello,

I stumbled across this site earlier today, and after reading numerous posts with great viewpoints, I’m really impressed with the knowledge base of the community here.

I want to become more involved in real estate investing, and would like to get some input from people more knowledgeable than myself. To summarize my situation briefly:
- I have a full-time job in the professional sector in Kansas City, but am interested in REI both because it interests me more than my 9-5 job, and because I see it as a way to generate income without being dependent on a company. I am extremely knowledgeable about the local housing market and know how to scope out a good deal (and frequently find them).
- I currently own 2 single-family homes. The first I bought in 2007 and used as my primary residence until this March. It was recently refinanced, has about 10% equity, and rents for 30% more than my monthly mortgage payment. The second house was purchased this past winter and serves as my primary residence.
- I want to add additional single-family home rental properties to my portfolio to generate more cash flow, but I suspect that the banks who I got my mortgages through would not loan me any additional funds at this time because of my other properties (my second house was purchased at my pre-approval max). My ultimate goal is to have between 30 and 50 rental properties. I’m also interested in flipping and rehabbing homes.

I know this is similar to other threads on here so I apologize if my question seems a bit recycled… but , my main question is whether anyone has any recommendations for financing the purchase of additional rental properties given my situation? Are there any readings that might be helpful? Does anyone have experience in the KC market with a similar situation?

Thanks!