That is subjective though - I just advise my exchange clients to understand that number and understand their exposure.

It's people like you who cause folks who would actually benefit from an ESA to be painted with the same broad scammer brush. 

This will help you understand the qualifying requirements, key factors to consider when purchasing, and how to assess whether a property might be a good investment at first glance.

I've seen a lot of talk about house hacking and while I believe that I understand the list of it, I'm just not confident to start.

If you don't understand something, ask the PM to explain.

Seller wants $160,000 cash out which leaves $50,000 in equity for the buyer.I had a taker from CA but he couldn't come up with the cash.I was not aware of anyone that understands that kind of deal.  

2) How well do you understand the differences between Class A, B & C?

However I am struggling to understand and evaluate the risks involved with cash out refinancing 2-5 years down the line.

@Malcolm Brown it is great that you are thinking of the money to fund the deals you are going to get started with but understanding what a deal is, I think, should be the starting point. 

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.