As opposed to using the BRRRR method and using the equity to get the second property.  

There are many concerns here, and restrictions that vary by company based on the age and renovation history of a property.Valuation method: Actual Cash Value will deduct depreciation over time from your claim settle (which can be thousands of dollars), while Replacement Cost Value will not deduct depreciation, and will almost always result in a claim settlement being larger by several thousand dollars.Theft Coverage: How does your policy handle theft claims?

I am wondering what method can I use to pull this equity out of the home to purchase more homes through owner financing techniques. 

I plan to use the BRRR method.

That's a great idea with BRRRR method.

I found a potential property in Arlington Texas that I could use the BRRR method, however after putting aside for, maintenance, vacancy, and capex I only come out with 5.65% COC.

I will definitely try those methods! 

I also want to be somewhat methodical as I know I have a tendency to get a little info and just run with it and it has bit me in the *** before with other purchases (vehicles). 

I like that strategy for making an offer, it mixes in several creative methods 👍🏼 

No to real estate investment for the timebeing for me at least ( temporary)Because I already invested and I want to see how the market is doing, I want to learn more, networking.I am against real estate gurus who says invest in big amount and leave your job bla bla bpa, first when you invest in big amount and you do have cash the interest rate will be huge and this decrease your profit and yield/ cap , also high yield mean high risk second real estate as any business have good time and bad time so leaving your sustainable job and depends mainly on real estate investment is quite risky method, if one could generate double or triple his income real estate this is something else, I don't think typical person could rich quickly without high risk