As far as finding deals suitable for BRRRR, I have reached out to a few wholesalers who can get me some great off market deals hopefully, but MLS access would be ideal because like you said, there are some BRRRR’s to be found there as well.

and you still have access to the cash just like in a refi.

If the 12' section is in a crawl space or basement and is easily accessible and isn't leaking, don't disturb it.

Near downtown, easy access to Route 1.

Profits I can understand perhaps only set intervals like every 6 months or if not a penalty to access whenever.

We're all just so used to having information accessible w/o knowing how we get to the number. 

My goal is to become an investor, but I would like to take this course for its educational aspects and get my license to have access to the MLS. 

A HELOC is like a checking account in that you have access to that money but you don't pay interest on that money until you actually use it.  

I would focus on an equity loan or cash-out refinance to get access to new capital.

For my first real estate investment I have access to the funds that would allow me to put 20% down on 2 or 3 $200,000ish Condos.The Condo’s are in good condition and would not need any rehab.Is it smart, stupid, wise, unwise if I purchased the Condos with a 20% down, and rented them out at a proper rental rate (which would be a few hundred dollars higher than the mortgage)???