I thought if I sold some of these, park the $$$ in the bank and then go "shopping" again and buy 2 for 1 once the house values go down.

That activity is not for newbies, unless you are a contractor.Yes, we all start somewhere and a safer way to get started is by buying your first home, then a buy and hold SFR to gain experience rehabbing...First of all, flipping a house is not investing. 

I always enjoy talking shop with fellow investors in the area.

They were both charming and hospitable--I had a blast talking shop with the big boys/girls! 

(still shopping) 150K Private Lender(s) - 4.5% Interest Only120 Cash from UsThis consists of 5 properties/12 units, all very well maintained units in great locations less than 20 years old.We are doing this primarily for long term wealth building over cash flow, at least until about 10 years from now (retirement time).

It will also help you to understand the limit of what you should be shopping for.

We would like to have our equity from this house (~$80k) to use to fund other (safer) investments we have lined up in Indy and Ohio.

I see that other investors that is shopping in the same market I'm shopping seems to get great deals.

The intent of the law is to keep people without knowledge of fair housing, deposit funds, etc from setting up shop without a licensed broker overseeing them.

You're not accounting for Vacancy. 8.3% (1 month) is a pretty standard number. 10% and up would be safer for Section 84.