Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

The rent rates are compressing right now and in my opinion the next 12 months are going to be rough if you do not have a enough of equity in the property.

House hacking a duplex, even with negative cash flow upfront, is a great way to build equity while learning hands-on.

That will stop most wholesalers from calling when it appears you have no equity in your home. 

My wife and I have a vacant lot in Tallahassee and we're looking to use the current equity to exchange for a larger single family investment property.

Investment Info:Single-family residence buy & hold investment.

A recent article discusses how Bloomington is considering flexible zoning to support dorm-style units, aiming to provide housing solutions for residents earning 30% of the area median income (AMI). finance-commerce.comThe city has successfully added new rental units in the 50% and 60% AMI bands but faces challenges in creating units for the 30% AMI bracket due to financial constraints.

Look for homes where strategic renovations will create the biggest equity boost.Leverage Hard Money Loans (HML) – Don’t let lack of capital hold you back.

Went on to purchase additional rentals so tenants can pay down the loan and I build equity How did you find this deal and how did you negotiate it?

I don't think your first property needs to be perfect, but doing the work in advance gives you the possibility of refi (in a good rate environment) or more equity on a HELOC.