For instance, if I stashed away 10% of the property value or a certain fixed amount in the account, can I then start diverting funds to a general account and snowballing the excess funds onto individual properties or as personal income?

Still didn't really solve the equation of wealth building or my 'fix', My motto is "Rentals and REIT's".

They pretended like they had no idea what I was talking about and everything was fine and fixed. 

The way I am looking at it once we sell our house the proceeds will fix our credit  with a little time once we initially pay it off (it’s only about 10k which the sale of our house will more than cover). 

If that is what you are looking to do, maximize short-term profits, you can't do much better than to buy a distressed asset, fix it up and maximize its NOI and then sell it in 3-5 years.If instead you are thinking more long-term, wealth-building then buy and hold can be a better approach.

I'm interested in flip and fix and buy/hold down the line.

I get my house, fix her up, get a tenant, and then go to REFI...how would the “cash out” portion actually work in his case?

They bought a house two blocks from where I grew up and I really enjoyed the summer I spent helping them fix up their place.

They ended up taking out money to to fix up the property and to rent it out.

I make the monthly payments on time even when my buyer is late/delinquent on his monthly fixed payments.