If you're looking to make short term use of the equity and have a private lender/investor who's willing to think outside of the box, you might be able to create a custom repo agreement. 

I'm an LP in 24 retail big box centers, we just lost 3 Conns Home stores out of 174 closing in 15 states plus closing their 280 Badcocks furniture and more stores too.

Identify your buy box (how many units, purchase price, etc.)3.

It doesn't hurt to go over the numbers with a lender though who could give a breakdown of what a closing might look like depending on your buy box. 

We love thinking outside of the box to be a creative investor using multiple strategies to achieve multiple streams of income & financial independence. 

Zillow is not the only place you can see homes for sale, get creative and think outside the box.

Fit buy box of A or B rated school district in good area that could appreciate over time.

My buy box is a home 5 years or newer, A or B-rated schools in the 200K-400K range that will appreciate over time with someone paying down my debt.

Given your budget you can definitely find a great property in a C class neighborhood, whether you're looking for a turnkey property or something that needs light cosmetic work, your buy box offers a great possibility to find a solid first investment.

Columbus OH checks all these boxes and the rules here are super landlord-friendly!