@Cashmere Robinson Great point on looking for a distressed property to add instant equity with the work put into the property.Account Closed Thanks for the advice and good points to consider.

And the people you are meeting instantly form an opinion about you.

What most seem to be dream chasers, they need instant gratification, wheeler dealers that have been mislead, actually they are victims and don't know it.

I would think cash-out refi would be my best option but then again I was also thinking of refinancing and then doing a home equity loan.Can my mom and I instantly do a cash out refi even though I am not on the initial loan?

I put at least 50% down so they cash flow instantly.

Aside from MLS access and making my own offers, it gives instant credibility when I'm talking to owners, buyers, and other agents.

So when I hear the words "thank you for your service" I instantly think they are referring to those who don't have the luxuries I have. 

Examine the numbers thoroughly to determine cash flow with BiggerPockets calculators.Not only would I rule out appreciation as a factor but I would never buy a property that didn't have instant equity.  

That's great that you would have instant equity in the house after repairs. however there is not enough info to go by to see if you would make money, what are your expenses vs income - taxes, insurance, management, utilities, vacancy, maintenance, lawn care, snow removal, mortgage, trash removal, water/ sewer.

There are great returns available from turnkey properties and the greatest benefit is that you get instant access to a local team that you can work with.