If your house is worth $200,000 then the 80% value would be $160,000, meaning you could only pull out $10,000 in equity.

Lets say after you remodeled it u want to keep it, you can refinance with standard lender, but what if there is no 20% in equity?

Prices in Corvallis have went way up since the purchase and I have close to 100k in equity now.

I roughly have 400K in equity.

., but I've never of converting home equity into an annuity, at least not without getting a conventional bank loan and buying an annuity.The person I know who uses this strategy has loads of equity (10s of millions), but relatively low income, so he got into a position where his ability to continue borrowing was limited due to DSR.As you anticipated, he did increase his borrowings to draw down, say, $10M in equity, and invested this in a defined term (also known as prescribed, or fixed term) annuity for 10 years.

I am a new investor looking to get your advice on my current situation:*Paying mortgage on my residence that has about $250k in equity *Not much cash on hand*Interested in BRRRR method or flipping*Targeting out of state because the Bay Area is nuts ;)1.

In CA, the formula is 1/2 to surviving spouse and 1/2 to child, however if multiple children, spouse takes 1/3 and children divide up the 2/3 in equal shares (called per "stirps"). 

We have a 10 unit  - with $1M in equity - 10 years self manage - 4 years into Chase 5 year at 3.71%4plex  - $300k in equity - 2 years self manage - 8 months into 30 year fixed at 3.5%Triplex - $400k in equity - 50% partner with daughter - 3 years self manage - 30 year fixed at 2.99%SFR - $300k in equity - we live in house - 8 months into 30 year fixed at 3.5%looking for an expert to help us navigate, and put this equity to work.thanks for your time

I guess given the other two choices, I'm just trying to understand why you are you potentially considering taking all your equity, giving up home ownership, and investing in equities?

We have about 200K in equity so that will probably make a difference on our decision.