I am estimating about $40K in rehab costs including cost to fill in a pool in the backyard and convert to grass.

I want to use the financing strategies I learn above, coupled with that $ to either do straight flips, OR do some BRRR.My first question is, HOW do I get access to that $, and use it without getting murdered by the feds in fees, taxes and limitations...?

I ignored that.My plan is to file for an FED tomorrow morning.

Welcome @Robert Wodogaza and congrats on your success.As someone who is trying to buy their 1st multifamily in Providence (Fed Hill area), how have you effectively used your time while holding down a job and home life?  

I will be managing myself so I will be taking care of snow and grass depending on whether the tenant is up for it.The insurance I quoted was for replacement cost.  

You sound like you have a similar background to where I was coming from - my folks had me mowing grass and fixing things, collecting rents and making payments for their rentals business when I was younger. 

Stocks worried me though with them being at an all time high, new president, and fed rate factoring what may happen.

Landbanks are more or less where municipalities go in and take properties from negligent/bad landlords who leave properties un-kept for years, take them , mow the grass and re-sell them to people who will take care of them, otherwise they get torn down. 

If you would like to go into more depth on Co-Wholesaling, just reach out to me and i'll answer any questions you have on it.2) Driving For DollarsDriving for dollars is the cheapest and least risk for acquiring property (unless you are in a bad neighborhood, haha)in short:you drive around and take note of all the properties with deferred maintenance, boarded up windows, over grown grass, or obviously vacant.

Just refer him to a HUD counselor for free and move on.These rent backs from the former owner the Feds have been going after investors and prosecuting for stuff like that.