I'm hoping someone that's started from scratch can help me with the first steps of getting going. 

Hey BP! My name is Tim and I am new to this community.I am looking at getting into investing with either a focus on fix & flips to either rent or sell (depends on the property.) I've done a bit of rehab work over ...

If they don't pay (which they have already said they will not pay a dollar), what are the next steps? 

The next step would be to check out your local real estate investment club.

If you have had experience with one or more of these methods of financing, please share the advantages/disadvantages you have experienced. 

Ok, well, I'm still making an offer based upon the income I'll be stepping into.

A Lease with Option to Buy is another method I am considering.

Problem statement:My question is What is the BEST method to cash out equity, as one home has 300-400k sitting available before we get to the 80% LTV.

Forming (either) an LLC, or C-Corp will give you protections you don’t get as an “unincorporated” person doing business;2) Forming your entity (LLC, or C-Corp) is just the first step.  

Recently, I had the opportunity to step in and finish up a rehab that was long overdue.