If you are willing to take the risk, I learned you not only could force some serious equity but could find it is easier to land a deal in a hot market.

But is it too risky?  

dont let the tax tail wag the dog.. flipping remotely is HIGHLY risky.. 

If you are less experienced, then usually that risk is incentivized by offering up more equity, maybe you get 30%.

Frankly, it is wise not to take more 10% of any individual's net worth into your deal - the risk is too high for them and the risk is too high for you if something goes wrong.

Seems like putting something on contract before having a loan would be pretty risky.

That's a lose-lose proposition, whether you prevail or not (you will lose a lot of sleep and money, for starters!). 

(since I believe hard money lender won't lend on auction). it is risky but sometime you see some deals so tempting. :) 

Look for a different HOI that will take on the risk  .  Is

I'm perfectly fine dealing with risk, but wondering how much risk is appropriate to take on.I have about $50k in equity in my personal home and I always see mixed reactions about using a HELOC or Home Equity Loan for rental properties: some people saying absolutely put your equity to work so you can use 'other people's money' and keep your cash reserves, while others say absolutely not, don't put your personal home at risk of being foreclosed if the unthinkable happened.