You then refinance it for $500k and pull $100k in cash.

Get your DTI down by pulling cash out of an investment and paying taxes OR paying more for a bridge loan. 

Buffalo is a good city to invest in for cash flow with a low barrier to entry, but you need a great team in place to pull off what you are trying to do. 

I would rent them out with strong cashflow before selling and make all the necessary updates and have your agent pull detailed comps to see what you can actually get out of the property.

I do not recommend pulling a home equity loan as a first time investor if you are buying a fixer-upper, the current rate environment is not favorable for rehab projects that run way past their scheduled timeline and you don't want to run into a situation where your family can't meet loan payments while your house is securing the loan. 

So, if you are looking to pull cash out you have to use an alternative to Fannie Mae/Freddie Mac like our 2 step process that @Clint Jusino mentioned. 

I’m having a bit of paralysis when it comes to actually pulling the trigger on any deals.

If you've educated yourself and the numbers make sense, pull the trigger before someone beats you to the deal.  

If you do pull the trigger, I would float the rate until closing and keep a pulse on the 10yr note.

At this point I’m in disbelief thinking I might actually pull this off, until the bank called.