I brought in equity partners and one had strong w2 income.

When you have 3-4 rentals under your belt or $1 million in equity, then you can pay a little more attention to protecting your assets.An LLC is useful for two things: anonymity and legal protection.

I do have about 600k in equity locked up across 3 properties right now (1 primary, 2 investment properties) and I am just looking for the best and most price effective way to tap into that equity.

And his investor client will be able to pull all of his money out leaving only 20% in equity (BRRR method). 

I want to cash-out refinance the Duplex for $350,000 and take out $250,000 (leaving $100,000 in equity) to use in purchasing another personal SFR (second home to become primary) priced at $400,000 using remaining funds after paying off previous mortgage in the amount of $110,000 ($250,000 cash-out - $140,000 previous mortgage) as the down payment and later rent out side A.

From there it is up to you to figure out whether the $, time, opportunity cost and learning experience makes this the right opportunity for you.If you get involved in a partnership like this where you have equity, especially where the majority of your compensation is tied up in equity, you HAVE to know what the majority owner's plans are, you have to be in sync and you have to believe that it will work.

Both were short sales and I immediately gained about $60K in equity and am netting about $700/month in cash flow, after reserves.

Here's an example:You have a $100K property with $50K in equity that generates an annual net income of $5K. 

Most people who are buying turn key's know that they are not getting a lot of built in equity.

I am currently looking at a 200k property (3-unit house).I wonder if its wiser toA) just finish paying off my 1st property and then getting a 2nd laterB) use that money to make a big downpayement for a 2nd property c) get (2) 200K rental properties and put down 50k as a downpayment for each.d)buy a single-family house CASH paid in full.And probably make $1000 month in rent and then use this INCOME to either help pay off my 1st prop mortage or to buy a third property later.Simply put... if you pay off the mtg, you have a *Stuck in Equity doing nothing *You don't get tax breaks on interest *You are not LEVERING UP. * Missing the boat big time - you are getting cheap money from banks...borrow as much as possible and lock it for as long as possible.