I read http://www.biggerpockets.com/rei/real-estate-comps-house-value/And was wondering how most investors do this.Pay for access to MLS (how much does that cost?)

That'd be the closest and you could probably drive there if you really wanted to have easier access.

So the question I have is, what would be the best strategy for accessing the equity I have in my house.

"No one knows what we all know together" I also have access to all types of investment properties of all kinds.

The option may include terms that before the option is actually granted the option price of a stated amount must be paid, say 1% of the purchase price applied to the price.All you're doing is getting an opportunity to take an option over 60 days, on day 30 if I'm going to actually take the option I pay a reasonable price that gives a defensible equity interest, not an equitable interest amounting to ten bucks.The agreement can give me access to a property.

Very close to interstate, less than 500 ft from bus access, and near one of the busiest streets and intersections.

No, you are not searching the MLS when you use realtor.com, Zillow, Redfin or any publicly accessible website with listings on it.

My mother is actually a realtor for Austin and my father is a loan officer, but they don't have licenses or access to the lists in Houston.

Why not just wholesale it and let someone with the capital or access to the capital deal with it??

They leverage economies of scale and relationships built over time that you have no access to at this point.There are arguments to be made on both sides, particularly in the first couple of flips and if you have no construction background.