@Tomer Einy generally neighborhoods with an ARV of about 250-350k are your best bet right now.

(Usually for someone without a lot of experience, family or close friends are your best bet.)

However, if improvements were substantial then indeed a Cash out refi will be your best bet, and depending on your credit score, and cash flow you will be between 75%-80%. 

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

I think its not a terrible idea at all and should be pretty good idea actually.I'd recommending reading this "House Hacking" book from the BP Bookstore as your best bet for next step and understanding this process!

You bet!

It might help pay for your expenses if you house hack but I bet the number of markets a 3.5% down payment is cash flowing has shrunk significantly over the past 2 years.

I didn't stick around to see it sell but I'm betting it went to the plaintiff.Here's a question... if you could successfully line up financing in the period between the sheriff's sale and the confirmation hearing, could you close with bank financing?

Talking to a local like Greg will always be your best bet.

And, I'm willing to bet that most landlords don't do much better than a 10% annual return on their funds.