When evaluating potential properties, consider three exit strategies: if you can sell quickly for a profit, hold it as a rental, or take a loss.

Move on.If they say, "maybe" or have lots of questions about the details, then move forward and pursue.#3  TRUST.   

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I am just out side of Elkhorn, WI and selling our property the is 5 blocks from the lake. If sold for the amount I want I will have 30k to 40k at the end. Love to keep relator out of it, but may need realtor to find a...

Borrowing against your paid off house without an income puts way too much pressure on the success of whatever deal/project you decide to pursue. 

This requires a dedicated effort sourcing and analyzing hundreds of deals to find the one or two worth pursuing.  

A mortgage lender can help determine if refinancing or tapping into equity might allow you to acquire additional properties.Consider a 1031 Exchange: If you're open to selling a current property, a 1031 exchange can defer capital gains taxes while enabling you to upgrade to a larger or more profitable asset.

Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.

As a side note, and maybe others will recommend this as well, obtain your real estate license instead if you are interested in pursuing sales full-time.

It's tempting to chase quick riches in real estate: flips, short-term rentals, hot markets. But true my wealth primary have comes from something less glamorous: boring real estate.
What's "boring"? Long-term buy-and-...