Feel free to reach out.  

@Richard Olshove you as an out of state investor should not be involved, PM should handle all Good luck

I'm with @Huong Luu but would add join a local REIA and find some PMLs they are always hanging out at meetings.

I am an out of state investor.How have dealt with this issue>Neal Schadler There are multiple property managers in the "build your investing team" section that can help here. 

After some research on my own I found out my parents are very below market rent.

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

In terms of using home equity, you would either have to take out the money using a Home Equity Line of Credit (HELOC) or you could do a cash-out refinance.

Have you tried it out?

The dude asking for advice is a 33 year old retired NFL player and she recommended he check out a $5 or $10 book written by another 33 year old retired NFL player.

See properties that are in and out of escrow, that is another sign the seller might be getting tired of getting their hopes up and then the hopes get crushed.