I haven’t completely dismissed the possibility I can get into some great markets out of state, it’s just the unknown is so great about it, I haven’t given it a ton of thought. 

Well, yes, some properties may require complete work, but others may just need cosmetic things to bring them back on the market.

Utah market.

I have met a few folks recently who are active in that market and I am planning on following up and seeing what their experience has been.

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

Usually turnkey operators suck the equity out of a deal and sell at or above market so there goes the equity. 

At the time, we were new to the market and, admittedly, didn’t conduct thorough due diligence before buying.We purchased a property in the Atlanta area, renovated it, and listed it for sale.

Charge market rent. 

To be clear my goal isn't to have a bunch of cash flow Y1 but just looking to break even.2) How could I go about finding markets where MHP are more beginning investor friendly?

Those are always good because your unit can get on the market again faster and the tenant usually leaves in an orderly fashion.NJ is an attorney state.