Any thoughts/risks/tips, or pros and cons would be helpful about using equity to purchase a home.Thank you 

I have a modest background in home renovation and a strong background in real estate, just not on the purchasing side of everything (valuation).Also, any other tips are helpful!

It would be a great opportunity to hear from the group your suggestions and tips to start this ventureThanks

Asking Price is 556k        Appraised Value "Sales comparison approach" 598k         Built in 2004Decent location in the middle of townAll units currently rented "Units leased are 1 year leases" Unit A Leased Dec 2018 $775Unit B Leased Sept 1 2018 $700Unit C Leased Nov 2018 $900Unit D Same renter for 3 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit E Leased Oct 2018 $900Unit F same renter for 2 years, month to month current rent $850, they are upping the rent to $900 in Feb 2019Unit G Leased in April 7 2018- March 31, 2019 $700 Unit H same renter for 3 years, month to month current rent $675, they are upping rent to $725 in Feb 2019Total current income = $6,350   After rent increase next month income will be $6500Expenses - Tax $817- Est.

Current Rent: 1100 one side month-to-month - market at 1400 - 1600 (agent tip)Offered: 360k + closing creditsDown payment: 3.5%Vacancy, CapExp and repairs estimation: 5%Rehab Costs/ ARV: Pending inspection and appraisal, but right off the bat, both kitchens and one set of floors, small items need updating.

Here's a tip @Asury Johnson, when nobody is immediately checking in to a STR after a cleaning we make the beds with the damp linens right out of the washing machine.

Can you please give me tip and tricks?

I was just wondering if anyone has any tips on what questions to ask while trying to decide on an agency?

I would love tips, pics or some ideas on the type of contractor who could do this.Thanks! 

@Kyle FergusonOk great thanks for the tips 👍🏻👍🏻and thanks for taking the time out of your day