I would make sure the escrow is large enough to cover any conceivable repair bill otherwise if the escrow is short your seller will go dark.

Cash out is good option if you are going to use money for longer term if you  need money for short term purpose definatley go for LOC.

(though short-term you'd be better off finding a different approach)

Initially I only paid 10%.. but next day I paid full amount, got receipt from sheriff and some paper with stamp on it that says record of sale/interest....To me it seems like this is all clear even at this point deed has not been recorded, I told bank that I paid all the money to sheriff and they'll send the money to bank shortly...Is this all clear now for me to take possession ?

I 100% rehab my homes, new HVAC etc, then rent for at least year before a allow the tenant to buy via a CFD with amortizing term 10-14 yrs, short as possible.

If that's enough to get out of the place without having to bring cash to closing or do a short sale, I'd recommend selling it as-is on the MLS.She needs a general contractor, not a property manager. 

If it’s dumb I guess it’s no big deal, but I think even a short series might help a few people and that would be worthwhile.

We are using a high level of leverage with bank loans and private short term loans that will be paid off in the short term, we also have seller financed notes in the mix.I have seen much of Grant's materials in the recent months. 

Adding to what Kurt says above, don't be afraid to use leverage, once you get say 4-6 properties or more cash flowing you can put all the extra income toward one mortgage and in a very short time payoff mortgage after mortgage and in say 5 years or less own several properties free and clear reaching your goal.

And they all have different gigs and many are wildly successful.. my partner in our airplane for instance has a big underground contracting company 100 plus employees make huge bank.. and invest in real estate as well short term and long term.. and now started a container home building company LOL.