Right now there is only about $65000 in equity in the home itself.

I am new to investing in real estate, but I do have a home that I purchased for my parent, and the property has about $135k worth of equity.I need some guidance to see if what im thinking is possible.I found a home for $200k in Florida - I was thinking of refinancing my property to take out the $135K in equity, and using $40k to purchased this houseso the breakdown is thisTotal amount on hand after refinance = $135kHouse 1:  price=$200k / deposit=$40k / Remaining cash on hand=$95KHouse 2: price=$200k / deposit=$40k / Remaining cash on hand=$55KHouse 3: price=$200k / deposit=$40k / Remaining cash on hand=$15KMy question is - does this make sense, and has anyone done something similar?  

When you are sitting on $700+ in equity, it opens up a lot of different options. 

Eagles, owls, coyote, deer, fox, turkeys - and more little birds than I can even start to name.In the ensuing 18 months, we've picked up $100,000 in equity, just based on the crazy market. 

With a 15 year note you will gain 20% pay down in equity over 5 years so you can refi again for another 15 years and pay the 2nd note the sellers took.

We just turned down a fixer upper for $250 in a hot area where we could fix it ourselves & have $50K+ in equity!

Also if I was a PM and had a big successful portfolio of my own and millions of dollars in equity, etc.

The home has been renting for 4 months now and has about $230,000 in equity.

We do have about 750k in equity in our current home. 

.- 1.8M in equity assuming a 2% appreciation.This requires us to put down ~$550K today to make it happen.