We bought it and I spent the next 4 months working on a complete gut renovation of the house, living in a tent out back, begging friends and family to help hang drywall, pull nails from the oak flooring we salvaged from another local home days before it was demolished, or carry in the concrete counters we made out in the driveway.

There is no formula you should use, but before you pull the trigger on a purchase, you should do all your due diligence to determine the ARV. 

In the past I have determined the basis by pulling 5-6 comps within a 2 mile radius and documenting my 'math' that arrived at that basis (similar to an appraiser's table.  

Does any one have success with pulling public records for probates that have a quit claim deed with a death certificate attached?

So money right now is now issue, however who knows how long I can put up with having a roommate so I want the flexibility if things get tight down the line, say I purchased a property, etc.Would it be worth pulling out all the money I can on my house or better off just leaving some in equity?

We're a little fearful of pulling the trigger until we know more, but I had an idea that might ease us into the rental game.The idea that came to me recently involves my in-laws.

Also he/she can pull comps and look out for buying/selling trends in various zip codes and connect you with other sellers/buyers in the area that may be interested in future deals.

Also, of all things, the ceiling on the unit is pulling away from the walls.

I'm wondering in the event of a loan secured by a mortgage, after I have the note could I then turn around and sell it to pull my money out?

I also used Google Maps 'street view' to pull images of the identified comparable sales.