The best path seems the one where you enter in slowly with a toe in the water before you cannon ball.

I'm always prepared for curve balls and extra hoops when I walk into their office, but with the exception of one land division attempt (FAIL!)

He pretty much says it all, and much better than I can.THAT is where BP "drops the ball".

You mentioned you have 300-350 in equity, but banks/lenders will always low ball your home value and maybe you get 100k based upon your loan to value and debt to income ratios.

well, LA was awesome in 2002, 03, 04, 05 and yes 2006 as well..No one has a crystal ball but it doesn't mean you shouldn't invest in hot markets.

At least get the ball rolling? 

I know it would be a ball park figure but even that would be helpful. 

It's like stepping up from T ball to the major leagues.  

I am always very pessimistic about individuals/outfits who can evaluate a market from a computer program, especially in a place like Memphis where you can be standing in a $650 rental home, walk out the front yard, tee up a golf ball and with your 3 Iron, hit a $500,000 home.

Chris Martin knows the local market infinitely better than me but once you hit consecutive years in "best places for" job growth, property appreciation, quality of life, etc. you're behind the 8-ball.