With this method, you could put down the down payment of your new investment pay it back (eventually) and repeat.Cash-out refi can allow you to tap up to 80% of the equity of the property.

Here are some tried and true methods to find good brokers in any market:1.

@Kiera Underwood -- this is fantastic!

I am leaning towards method #1, but am not sure of the 'mechanics' of it.

Door knocking seems to be the most common method.

I called all the local lenders in my area and took notes as to which were investor friendly, and recommended this method.

Builders Material Outlet has some fantastic buys but its hit or miss finding your sizes.  

We suggest the both and method.

I'm in the brainstorming stage.Do you think this method can work, or do you have another creative solution for this?

If you use the 70% rule (not the only method for determining purchase price), based on your estimated ARV, a purchase price in the $60k range would be a decent target.Another thing to think about is typically at courthouse step auctions, I believe you have to have all cash to make the purchase.Whatever you decide to do, best of luck to you!