I think it's one of the best ways for new buyers to get into the market!

I put about $15,000 into rehabbing it, and it’s currently rented for $1,650/month, which nets me around $1,300/month after taxes, insurance, and expenses.The annual costs are:Taxes: $2,200Insurance: $1,600I’m looking to refinance this property to pull some equity and use the funds to buy my next rental, but I’m not sure what the best approach is.

I wanted to grab the experienced investor's thought process of which is a good entry market to start in if you are starting from 0 properties and $50,000, and eagerly wanted to work your way up and why.Houston - Has inventory, no state income tax, and has better quality houses for cheaper.

Any ideas on the best path forward?

A is way more expensive to purchase though risks go way down. 

Those are more than likely cash buyers.You can find people/companies that will sell you cash buyers lists area dependent.Sign up for your local REIA meetings (I HATE those meetings) and networkThere are more ways but this is a good start.Remember, the best way to attract cash buyers is by having a great deal signed and wave that contract around.

House Hacking with a family is great way to go. 

The IRS still sees you as the owner either way.

@Kerry Baird Here are the 10 finalists for Best ADU of the Year...you can vote on your favorite here: https://maxablespace.com/10-best-adus-of-2025/

House hack is the way to go for sure.