With good interpersonal skills and the preparedness to take action should stuff go wrong (cash for keys/eviction), you should avoid any kind major disaster.

@Stan Butler if you gotta trade up and use that stagnant equity.

I think there is a lot more opportunity for putting your skills to use with flipping in ABQ until you get experience under your belt.

Partnerships can be truly amazing especially if it brings more skill sets to the table.BTW....welcome to BP!!

Honestly, that is the starting point and doesn't take much skill or commitment.

I wanted to cash in on the equity and trade up to a larger property.Purchase price: $1,250,000Cash invested: $50,000What made you interested in investing in this type of deal?

When I found a key player to join my team that complemented my skill set, my business had everything in place to really take off.

Also, my current W-2 is earning an hourly rate <$30/hr which is less than the going rate for skilled labor in my town, so I feel like I'm able to add value just by doing my own remodels.I'm very interested to hear what all of you have to say on this matter! 

You must trade equal or up in value based on the the sale price of the house (not the gain, profit or equity). 

You are basically going to end up there anyways, so why trade in all those fixed low rate mortgages just to open new slots that you may not even be able to use?