@Ray Loveless, you bet.

Especially for flipping, I bet you can find a diamond in the rough out there. 

The "look at 100 and close on a couple" adage is as applicable in passive as it is in active investing but many investors simply do not follow it. 

Most brands also have a tamper proof tab you can activate when you install it that makes it hard to remove unless you know exactly how to do it.

If I ever buy in the L.A. market you can bet I would hire her again as my agent. 

I am actively looking to use the cash-out funds for an investment property (SFH or multi family) and am excited to build my portfolio.Hoping this story helps anyone out there looking for their 1st deal!

@Michael J Martinez  I think your smartest bet would be to talk to a couple banks about a HELOC and about a new mortgage.

Houston is fairly active on here!

Your best bet is to sit down with a loan officer and discuss your plans  - they will be able to tell  exactly what you can and cannot do  - you may also want to consider getting prequalified so you know how much you can buy and what your payments would be - this is especially useful in running your numbers to see if a property will cash flow or not.

Since I'll need two years of an active broker license before I can act as my own Broker in Charge (BIC) for managing other owner's properties, does anyone have advice on how to recruit a BIC?