Same principles apply - being busy will create opportunity. 

You can make the mortgage Have a balloon payment in 2 1/2 years so that you don't miss out on the IRS tax exemption rule of living in your primary home two of the last five years.

Texas does have specific rules regarding home equity loans and cash-out refinancing (often referred to as "Texas Equity Section 50(a)(6)"), but these don’t prohibit homeowners from using funds for investment properties.

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If you gift a house, the fair market value (FMV) at the time of the gift applies to the lifetime gift limit—not the amount you purchased it for.

@James JeffersonHi James,To buy out the property you need to probably apply for a loan through any lender.  

I am not able to take equity out of my condo because it is currently on the blacklist due to HOA fixing the roofing and a Fannie Mae rule stating, if more then 50% of the condos in that community are owned by investors, I may not be able to refi.

There are outlier circumstances and big-picture strategies that could potentially apply; but that's why they need to talk to someone about their specific situation. 

Might be good to apply to real estate.  

This was months ago and family member has lawyered up to see what’s going on we did continue working until we ran out of credit card figuring once the money is released we could just pay off the cards but the money is still on hold Back in October we decided that money does not exist and started applying for hard money loan/speaking to lenders and have gotten nowhere.