Any kind of cashout refi or heloc will require income (ability to repay) and decent credit.

Thank you for your kind response!

I am more likely to take a risk, but i suspect when my husband is out from under a controlling baby mama, he won’t mind a little risk either.I love Texas, try to vacation there often and my husband is aligned with Texas farm property as a ten year long term goal.I’m also passionate about the trades and if i could do it all again I’d be part owner of some kind of builder or remodeler or specialty trades business. 

Thank you for the kind words.

Rob,Some times around this time of year a good deed can go a long way call it Karma or just being kind. 

You will need to put some kind of down payment upfront.

The DIYers are welcome, but these kind of deals take a solid 150-200 hrs for the average first timer from start to finish and a minimum cash position of $175k (if you DIY the design/furnishing; more if you want to be hands off).  

Connect with some contractors who can help you figure out what kind of rehab a property might need

It could also be worth it to test the market and see what kind of offers you receive. 

If electing S Corp status, pay yourself a reasonable salary to avoid IRS scrutiny.To be honest with you, you don't need any kind of Corp for tax savings unless you reach a certain amount of net income.