I've read and heard a million times about pulling out equity in a home and then using that to acquire more property, but I've never put it into action.I wanted to hear from the BP community about:-the best way to implement this strategy- loan companies to talk to, realtors in Las vegas etc-I don't think they want to manage the property, so perhaps a property manager-A good real estate agent to find their next houseThank you!

Also there is the factors that I would have to pay PMI on any loans with less than 20% equity...I would like some advice on this if I could get some feedback from people with experience in doing this.

It could work in your favor to get a better deal

If most turnkey properties have little to no equity?

My home is fully paid for and I'm looking to use the equity to purchase more properties.Should I get a HELOC or just cash out refinance and lock in a lower rate?

Unless, sweat equity is removed. 

What is the best buy and resell strategy for properties with leins of all kinds, high equity, free and clear, and auction homes that have not made it to auction just yet?

I think you would have a hard time getting favorable loan terms on this property. 

I have heard of this model being used as a risk management strategy (keep no money in the PM LLC and if you ever got sued over a PM issue hopefully your agreement between your LLCs shelters the Property Owning LLC (and the equity in the properties) from the burden of the lawsuit. 

I myself don't buy SFH above $150K because numbers usually dont work in my favor, but i would suggest networking with real estate brokers who focus on higher end  listings.