We use our HELCOC to fund our investment properties (purchase and rehab).

That means an 800K purchase and a 200K rehab (1 million invested) can result in a 400K tax credit that results in 360K CASH back in the pocket of the investor.  

You could get everything in writing but you'd have to evict if purchase didn't go through.

My suggestion if your goal is to free up some equity to use for another purchase - start small with the single family home with a cash out refinance.

This is a story from my past that provides a perfect example as to why investing in tax liens at auction is so dangerous for any but the most experienced and knowledgable investors20 years ago I purchased a SFR as a long term rental investment that sat on a double lot.  

Three out of my first five purchases were from the MLS.

To me a house hack will most likely work in Tulsa - I haven't done any research on that area, but as far as I know it's not a crazy market like places in California etc.Also read a lot, get some books from your local library or purchase some online.

Purchase price: $145,000 Cash invested: $60,000 Fully renovated 4-5 bedroom ranch on 3.3 acres.

But we want to get into house flipping and have started looking at the listings here to find investors and properties.My question here is if we are in escrow and we find a property and an investor and get in escrow there, how would that affect the purchase of our new home?

The newest outdoor is still advertising 1st month free as they haven't filled up, and I spoke with the climate controlled owner/builder yesterday (he's a pretty big REI in the area), and he made it sound like he hadn't leased a single climate controlled unit since they opened a few weeks ago.I recently purchased a 140x45 warehouse with low ceilings and had debated doing self storage, but my market seems very saturated.