I have recently done a cash out refi and then took a HELOC out to capture some of the remaining equity.

As an FYI, the home was fulling covering all bills with 3 out of 8 bedrooms rented due to the variable nature of most of these costs.In July we had a tenant turn over and some late payments captured in August.Thanks!

I had a bit better of an equity capture going in and wrote a lease option on it.  

I would instead opt for a cash out refi- I worked at one of the big banks here in the U.S. and when it comes to the different options of tapping into your homes' equity I would typically advise to avoid HELOCs due to it being a second mortgage you'd have to account for as opposed to paying off the first and continuing to hold a single loan for primary with refi- while capturing (typically) up to ~80% LTV

However, one of your biggest advantages is that your property tax basis is lower relative to current investors, so you have structural margin to capture going forward.

Equity capture at the buy is the play these days. 

Also, the Google street view image capture is from may of 2019 and the embankment looks the same just less vegetation; since then we’ve had a 5.1 earthquake, a lot of rain last year and several hurricanes so while I would like to have a wall there at some point it doesn’t appear to be in any immediate danger...Thanks again for all the replies and opinions!

Maybe low flow toilets and new low flow shower heads, LED lights, rainwater capture system and cistern to use that for landscape watering.

Note, Trump operates these after he acquires and builds/remodels them, which ensures he's capturing the highest margin.

This will also allow me to capture the larger equity upfront.