Additionally, any tips for out-of-state investors would be invaluable.Thank you in advance for your help!

So my question is, can I take out a line of credit against that equity to help fund my next purchase, or can I not take a HELOC out on an out of state investment property?

If I want the money out for a longer period of time, longer than a year, I prefer to refinance.A HELOC is much like a credit card, in that you pay what for the amount you use, and it can be repaid and then drawn on again. 

I am not able to add it to ibooks on my iphone

My family and I would live in one of the units in order to be able to do this, and there would be an additional 3 units in order to get the full amount of the FHA loan. 

(additional info: changing the stairs or getting new ones would be a massive undertaking)

If I were you I would be looking at this as an opportunity to really negotiate price and other items that you want to make happen (credit back at closing, fully furnished and more). 

If you'd like any additional information or have any questions please let em know. 

Additionally, since they are pooling investments at the Spark level, then investing as one entity into Rise48.  

Also this opportunity came through a turnkey rental company so there was additional premium baked in and as an out of state investor, I was not planning to visit there and don't know anyone who lives there either.