How versatile can we make a conventional 30yr. fixed?

[Juan Gisone]

So let me ask this question the opposite of what I am used to seeing on forums, blogs, and articles:  How can I invest (i.e., what can I do) with a typical 30 yr. fixed mortgage from a typical lending institution? So if I'm looking for a "good deal" (quick close distressed buyer, auction, etc.) I can't really fund it the same way I bought my house via a realtor - unless of course the "deal" is just a priced-to-sell property on the MLS...(?)

Usually I see questions posed "I have this type of deal... how do I fund/finance it?". How many different creative ways have folks out here used the 30yr fixed? HML are probably in my future at some point, but I rather jump in using a much cheaper low-hanging fruit.

Thanks!