Those shows have fueled the craze for flips during this business cycle.   

Carpet needs to be replaced more often with greater chances of getting stains or excess dirt build up.

Try doing the math to see if you would cash flow(have excess money left over from rent after paying the mortgage and your other expenses from the house) on the property with the market value rent.You mentioned needing to do the roof and gutters in a few years. 

Lot of great things that may apply to you with your excess land.

That seems like the way to go, but it seems a bit excessive. 

The growth is happening in a lot of warm belt states due to baby boomers in the tens of millions retiring to warmer climates and fueling influxes of population and money which creates more jobs. 

I also usually supply materials as well because they will sometimes buy soda, food, excess materials and new tools on your dime. 

If you bought right, then the appraisal should be such that a loan at 75% of appraised value at time of refi will cash out the seller....excess rent revenue accumulated during the 6 months should be able to make up the rest.If you aren't buying right, or if the appraisal at time of refi doesn't support the values, you are stuck.  

If so, what is the recommended process for withdrawing excess profits from business checking accounts and putting them into my personal account for using towards future purchases?

says the tourist - "You should scale this up, you could be fishing many hours more and sell the excess fish and make a bunch of money, then take that money and scale up, buy a fleet of fishing boats, hire workers, and make a billion dollars!"