own 9 rental properties, what should i do next?

[Ryan McCook]

Over the last 5 years, I have acquired 9 rental properties in Phoenix, AZ. Homes cash flow approx. $450 per month each (some more, some less), and there's quite a bit of equity now since the market has risen. Amount owed, approx 1.3 m and they are worth approx 2.2 m. I don't have much liquid cash to keep acquiring. I can go the slow route and pick up maybe 1 home a year, or I could consider cash out refi and pick up another 9 or so properties, but the margins on my existing 9 would probably just cover maintenance and rent loss if i cashed out. What would you do in this scenario? I have tried my hand at flipping, but not with significant success. My first 2 homes netted me about 8k total. 

[Steve Vaughan]

Totally depends on how these fit into your goals and what else you have going on.

Family, full time job, self-managing?  Stressed or feeling free?  Are opportunities for new property readily available anyway? 

I'll just say congrats on having 9 houses and equity and cf. That's huge.  We all don't need to stay to the grindstone and hunting and doing all the time.

Sometimes I look back and wish I only had 9 again.  I have  4 open as of yesterday and that's barely 10%.  I'll get through it pretty fast, but it's disrupting my nap schedule more than I like.  More more more isn't always the answer.