That's because most appraisers aren't actually looking to determine a real value for the property, but rather just looking for justification of the already agreed upon purchase price.

I have over $500k in equity with my primary residence and feel like I should be using it to get into real estate investing, but have no idea how to get started. 

I'm new to real estate investing and following the advice in the BiggerPockets books.

I recommend you read "Long-Distance Real Estate Investing" by David Greene and consider investing in a different market.

I've been working on real estate investments (both multifamily and commercial) for the past couple years and have learned a lot about the process.

Now while I am aware of what this means I am curious what the real scoop on these are.

For some background...I am currently a renter in the City of Chicago and am new to real estate investing.

Quote from @Regina Blake: Hi, yes Ohio is a great place to invest in real estate and if you have any questions or concerns.

I am looking for a CPA recommendation in the Michigan area, who has extensive experience/knowledge with real estate taxes. 

value of $650,000 already pulled out $50,000 and still have another $275,000 equity Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?