Now full disclosure, I am only a few months into my relationship with these providers so it could all blow up in my face, but ultimately I wanted to take action and for me this was the safest way to do that and I also figured the learning along the way might be worth giving up some larger returns. 

Good choices!

Tips include looking into the area, finding places growing, checking rent prices, and looking at loan choices.

@Eric FormillerSometimes it can help to decide where not to buy first then you'll have fewer choices of where to buy. 

While Ohio and Texas are good options, Tampa's balance of affordability, growth potential, and rental demand make it a fantastic choice.

Given the choice between cash now of say $500k, or REAL equity of $600k, I choose $600k equity as long as the $600k is greater on a RISK ADJUSTED BASIS.  

Learn from a mentor and see if you can provide sweat equity in the area of your choice at first to learn in the field training.

Leaning towards a home equity loan or refi as choices since I've been turn down for Helocs due to DTI ratio which i find strange.

You're in the right place to begin with, but the choice is yours.

I've seen some posts arguing about design and color scheme choices that are in and out of style in rehabs and flips so I figured I would give my first hand advice.