I wish what you were saying were the case, because I'd be able to pull out a ton of equity on the house I just bought for 43k that's I rent for $925 a month.

Thanks Jo-Ann and Donald for the positive vibes. 

If the market turns on you, don't expect 2% rent growth or any positive rent growth at all.

Is there even any equity in them? 

A good agent will be involved in the local real estate agent community and let people know what you are looking for, this exact scenario has put me in the position to buy many off market deals.  

I have only been involved in a few deals myself, but was raised by a father who understood the term "Sweat Equity". 

Save for 12 months and put every penny into the next one with no emergency fund other than my 401K and equity. 

He's been a very positive influence thus far from my end. 

I am looking to cashout some of our equity for other purchases, but the big guys require LTVs that wont allow for the amount of equity i am seeking.  

If there's some equity, however, it is a good candidate for a wholesale deal.