Due to my W2 employment I cant have any bad/negative personal debt.

So my question is is it a bad move to pull out all of the equity now and look for a fixer upper to rent out?

You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this. 

As Plano is a pretty nice clean cut buttoned up type of community they don't seem to have a lot of tolerance even for just a few bad apples.Dallas is considering a ban. 

Facebook has become a big one, but you have to watch out for bad actors.

They already have a track record (good or bad) with you, so you can decide based on payment history, inspections, etc.

Every property comes with its own characteristics and challenges. we have sold to hundreds of investors by now and there are some that had a bad experience as far as the property goes but theres also tons who havent had any issues.

In short: A great accountant will help you get wealthy faster, a bad one will have you make mistakes faster, and no accountant will ensure you keep making the mistakes your currently making.

.#1:  Rules of thumb will eliminate good deals as well as bad. 

Many of your main TV companies won't pay a claim on a property vacant for more than 30 days.8) Renters Insurance: how are you going to get S8 tenant, who qualified for the program via a string of bad financial decisions, to pay for it?