That equity is extremely valuable, arguably more valuable than the potential monthly cash flow that you'll split 50/50.

Bank Statements: Reviewing bank statements can provide additional evidence of consistent income and display how much cash they have in reserve. 

BUT RARELY do they want to learn this... when rates got to 15 to 18% in the carter years.. to keep deals working I had to give my commission to the sellers and take back notes from them so they got some cash to induce them to sell .. and the sellers paid me monthly  Usually half of the payment No interest until paid..

To be transparent, I haven't started analyzing deals yet but in talking with people familiar with the area I have been told it's hard to find deals that cash flow.

Thats why I started in cheaper cash flowing midwest markets and now sit at 9 doors across Memphis and Detroit and looking to add more.

I have limited cash in hand that I'm able to invest...I'm not sure that the current equity in my house is enough either to use it for future investments. 

I'm a Newbie too Lisa, I'm searching for out-of-state properties that have a good cash-flow; (in the positive). 

What's the cash flow looking like?

It will be a rental cash cow however we need to renovate it because it's stuck in 1970. 

Either option would cash flow around $300/m.