You can get a bridge loan (nice way of saying hard money) for the renovations and then, once all is back to normal, you can get a DSCR or other type of permanent financing done, but I don't know of any permanent financing scenario for an investment property that would allow the property to be in that state. 

If you cash out equity in a property, you are "borrowing" that money from the lender.

Technically for me, I'm trying to get into real estate investing in order to gain financial freedom and to spend more time with my family and also help take care of my family.

As soon as we had the money saved and the opportunity presented itself, we jumped on the chance to start this journey!

If you can qualify for it, get a HELOC or HELOAN on those properties.Or find a creative private/hard money lender that can tap into that equity in 2nd lien position or to cross-collateralize them with the purchase of the new property and use that equity towards your cash to close so you can buy that next deal without much cash out of pocket. 

. $100 is WAY too low and they will be losing money when finding a tenant.

These are single family homes that are worth anywhere from $500k-$1.25M, rented on a long term basis to renters that are paying a lot of money so there is a standard of care that I'm expecting for myself and renters-- over what I would expect from a 1 bed / 1 bath renting for $750/month (no dig to anyone who owns these, in fact I wish I had more of these). 

I work at a hedge fund, which allows me to save a good bit of money. 

That money is sitting in an account earning close to 5% so we are not complaining.

I think this area is prime to stand out but you'll need to spend likely more than 30k to furnish and amenitize.