So we bought and now want to refi (in some fashion) and get the equity out of this house to invest in the other rental but every bank we go to says that it's not possible.

If it's just surface, get a mask and some bleach and do it yourself.

I believe BP is just beginning to scratch the surface as far as a social platform.

When you make money, save it, and eventually you will learn to invest in Real Estate in a fashion that works for you. 

Still using the old fashioned Kwickset 910 and changing the code when necessary

I'm assuming he will want you to bring leads that you two can potentially work on together in some fashion. 

I’m not opposed to forming and LLC, but on the surface it seemed harder than it’s worth. 

Would require new interior paint, exterior cleaning, flooring to replace carpet (when home is vacant)From the surface this looks like a good deal but I am only starting to learn about this market.

I started the old-fashioned way, by making sure my credit/income was good and I applied for loans with banks and mortgage brokers. 

And we do the verifications the old fashion way of actually calling the employers and landlords to get the info straight from the source.