We would like to have our equity from this house (~$80k) to use to fund other (safer) investments we have lined up in Indy and Ohio.

The house is a distressed 2 bed / 2 bath  890 sq ft and asking price is 79k. 

EXAMPLE: 3 bed 1 bath 1,200sf MUST SELL!!!

What is the difference between taking a mortgage out vs. an equity loan or line?

The place has bed bugs, roaches, trash everywhere, countless dv's instances.

I guess the bottom line, for me at least, is that for a B- property, lack of central AC isn't a deal breaker if the numbers work.

There's also the idea of buying one for cash and then opening an equity line of credit for the future?  

I just opened up a credit line backed by my first investment property.

However, it would come in handy in times where you want MLS access...writing blind offers, pulling comps, listing your flips.Bottom line, you just need to weigh out the pros and cons. :)Good luck!!!

Now, I wouldn't be so short about that post if she didn't have "real estate mentor" in her signature line, that implies knowledge and experience, 17 years is long enough but if you're not current then much of that can be irrelevant, we get a lot of folks on here with guru knowledge based on folklore, just be more careful as to what you take in off the internet. :)@Jaylyn Heartso   First, what is "MMJ friendly"?