I am sitting on $1million in equity in  six rental properties I own free and clear.

We do however have some money saved in the bank and we have at least $80,000 in equity in our house. 

You are towards the top of a real estate market with over 200k in equity.  

We have a vacation condo with $150K in equity and appreciating nicely.

Found a probate that I’m trying to close my first deal on, I was able to get a hard money loan so I know I won’t be making much however there’s 50k in equity, at 20 years old what would you do with it?

I took the time to see the contract again and I noticed a made a rookie mistake as per all of your advise here. the payments plan is divided in equal payments of $4716.60.

Depends on what you have in equity but I would say go the HELOC route as well since you don't have much cash to fix the current issues.

Do you know how much risk a landlord take even being in inner city and terrible return in equity?

Also to buy only properties where I can add value and/or have built-in equity as a bit of a cushion for if/when the market takes a dip.It’s not that I’m expecting to sell anytime soon, but I’d like to have the option to sell and the extra equity created allows me to do that.Finally keeping plenty of cash reserves and sources of capital open (lines of credit, private money).

What's even more important is how to get those numbers that you put into a calculator or excel sheet.As someone once told me, "garbage in equals garbage out".Spend time understanding where all the numbers come from and that they are valid estimates.Best of luck, feel free to reach out for any questions or anything I could help with!