Is that a good way to go? 

Next question: How long before I can tap the equity if I were to go through with this?

I use them for one property in Atlanta but the PM in Atlanta was not getting my new units rented so i pulled those to go to another flat rate.  

Once you do that, it will be a stroll in the park if you have to go to court.

No need to go inside the house and no reason to compensate the tenants.

Finding a great buy is extremely important to me and I have been waiting for Summer's high prices and demand to go back down a little before I really start looking.

When you're ready, here are some good DO's and DON'Ts when getting bids:DOWrite out a detailed scope of work that outlines exactly what you want to do.Clearly define what (if any) materials you will buy and what the GC will supply.Get multiple competing bids.Check GC references, call past clients of theirs and possibly even ask to see their work.Closely analyze each bid and ask a lot of questions on things that are not spelled out.Ask each bidder for an anticipated schedule for the work to be completed.Ask each bidder about their desired payment terms.Sign a contract/written agreement with the successful bidder.DON'TWaste people's time if you're not serious about hiring them.Walk the job with competing bidders at the same time.Assume that all GC's will see the work happening the same way.Pay large sums of money in advance unless it's justified.  

are there classes or seminars to go over how to budget your profits?

I'm going to go knock on the door to make sure.

As you may know, if you get it directly from each county each one provides it in different formats, which can be very hard to go through and make uniform.