Not always sure this is the best idea as often the markets are so different.   

Would like to have a "friend of a friend" renter so I have an idea of whom I'm getting.

Quote from @James Kiny: We are a welcoming group of investors -seasoned and prospective - looking to share ideas, talk over problems and celebrate successes of our group members.

It's not a bad idea to use equity to pay off high interest debt but I wouldn't pull cash just to put it an account if you don't really need it for anything right now. 

However, you will need to find a seller that is willing to do this and it wouldn't be a bad idea to have a professional help guide you through this process.

No idea who regulates a crowd funded venture...isn't that idea that many, many people put in a little bit of cash to create a large pool?

I loved the idea of leveraging smaller deals to gain experience and scaling quickly to larger properties.

Hi Edward, I agree that investing in the out of state market may be a better idea in terms benefiting from potential cash flow at a more reasonable price. 

Under this idea, you'd need to see if the Health dept has any restrictions for your septic system (which i assume you have) and if the power company would meter the 2nd unit separately. 

I love your first idea, but that won't work for my situation.