I’m hoping to find more success in Phoenix, but as you stated, the old fashioned way may be my best bet.

@Vinny Muli - it is VERY hard but not impossible to get an equity line of credit on a non owner occupied property. 

Quote from @Matthew Beninate: Quote from @Sarita Scherpereel: Quote from @Seo Hui Han: You may want to consider local banks / credit unions just because many of them will require or give you more favorable terms for things like HELOC's and other line of credit products if you have a deposit account with them. 

Now if you've followed things this far kudos, and I bet your feeling some lumps.

This gives you a foundation for making a fair offer.Secure Financing: Be prepared to show you’re a serious buyer with funding lined up, whether through cash, traditional financing, or a creative option like seller financing.Have a Strategy for Repairs or Development: If the property is distressed, outline how you’ll handle improvements to bring it back to productive use.

I like that, unlike with say trading for a hedge fund, I can create opportunities for others rather than solely line the pockets of someone richer (that being said I still intend to make money).

They love the idea of wealth, financial freedom, but don't want to put their own financials on the line.

I think my line of thought is correct.2nd and very few investors realize this.. but lets say you have a wholesale deal and your buying it for 100k and the wholesalers contract is 50k and there is a 50k assignment fee..

You second property will rip I bet.

Read some other comments - I guess it is technically a cash out refi, but you're paying off a line of credit as opposed to putting the cash in your pocket which is what I typically think of when there is a 'cash out refi'.