With the $38,000 from the HELOC, you can cover down payments, closing costs, or even some light renovations on a new property.One strategy you might consider is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat).This approach lets you leverage the equity in your current property without sacrificing your cash flow.

Especially on the right, where I wouldn't call those outdated finishes and the colors look nice, maybe just needs better lighting.

That's not something most carriers do lightly.

I will say Key Bank is a bit annoying to work with (I was warned by guy who recommended and can attest personally that it's true) but honestly not a bad option.

There are plenty of warnings about these big box "wholesalers" online.

Fair warning -  it is death by 1000 cuts while you furnish a place to make it market ready.

.”- Alex HormoziEverything we’ve accomplished could be taken in a positive light, but you have chosen to take the most negative angle possible.I am and have always been willing to jump on the phone with you.

Just looking for some advice or any thoughts/warnings you guys may have on leased land properties. 

I would start with something either turnkey or light value-add, so you can start forming your boots on the ground team with less pressure and risk.

Each of those WIP accounts are assigned Classes (Landscaping, Flooring, Light Fixtures) so I can run reports later to help me better budget future flips.