I dont want to tap on my 401K because that is set for retirement, period!!!.

I have learn a lot in the short period of time, Joining BP is one of the smart decision so far, I hope you are accumulating good amount of Knowledge   

It is shocking how many get redeemed in the last 48 hours before the close of the auction.If the properties listed were beyond their redemption period such that I Knew they were really going to be sold, I would start looking at these again.  

Cons - you have to wait a few months depending on the seasoning period to do the cash out refi.

I plan to put two duplexes on the property but with this high appraisal is there a smarter thing to do to pull that money out of it or just use it for better collateral for the construction loan most banks will lend on the transfer price within a seasoning period. we face the same issues for land entitlement and development.

Surviving the first few years is tough, but if you can figure out how to do that, you can have a 3-5% down payment (call it 15-25k) turn into 300-500k of appreciation over a 10-12 year period.

It is sort of like a 1031 exchange for your bitcoin without the 45 day ID period or 180-day close requirement.

One mistake could extend the tenant's stay for months without any income, not to mention the stress it could cause.

I admire the folks who made money investing at 0, and riding it up to 1, over whatever time period.

Periodic 1031 exchanges when appreciation stalls out, or performance goes down, or trapped equity is costing you return are all great strategic moves.