This is just a bad idea and an inappropriate use of his equity, in my view.

The appraisal was $250,000, creating over $80,000 of equity.

Each sale in Palm Beach signifies more than a deal; it embodies the timeless charm of the community.The dollar volume continued to demonstrate ambition and determination underscoring the enduring strength of Palm Beachs real estate industry.Amidst all activities Palm Beachs townhomes and condos market sustained its position strongly with 94% of the list price received—a testament, to their pursuit of excellence.Time the quiet orchestrator of lifes melody appeared to move in harmony, with Palm Beachs rhythm.

Some have more than $1 million in equity while others have less.4.

Gap funding usually requires collateral and or pledging of other unrelated assets. i don't like leveraging those items and are typically a oxymoron because if you have those assets and dont have cash you essentially get into a leverage position you dont need to be in.having a asset that can be pledged for a gap loan without cash to me is kind of an oxymoron in itself just my opinion. 

Foreclosures Auctions are a great way to buy and create cash flow and equity, but as you know you need the cash to buy and pay settlement cost.Be prepared when considering purchases at the court house steps, do your home work first:Years ago I would go to the court house (before computers and the internet came into my life) to look at the foreclosures filings.

I have been able to use the equity built here to buy.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.

However, I feel the midwest is a good place to start, and would like to start snowballing equity....granted I'm not greedy and seeking a ginormous appreciation in 12-24 months.  

I have 100k in equity in a long term rental (was a previous primary residence).