WikipediaPro-business environment: Companies are reluctant to set up operations in cities with burdensome regulations that hinder profitable operations.

And yes, you can buy existing stuff at a discount from new construction for sure. 

Regarding renting your existing home, you have to look at it as a business.

Our best use for the property would be to build a couple of large estate home (8k sq' and up) and form a private estate, but, being that we are in the County with no existing zoning requirements, we could also build what we want and potentially turn it into an income generating property.

New to the BP forum and joined out of curiosity for a hypothetical scenario.I know everyone's situation is different, and everyone has different needs and priorities within Real Estate.So I was curious on one of the many situations one might find themselves in.In this scenario I wanted to ask if a HELOC on either your primary or an existing rental property out of 4 total properties would be a viable strategy for acquiring practically " turn-key " Multi-Family rentals?

You'll likely pay high premiums, face lots of claim denials due to "pre-existing conditions", and deal with service delays.

Half assed truths exists forever on the internet. 

Fundamentals change neighborhood to neighborhood (i.e. appreciation potential), inventory/absorption issues may exist, rogue city council members and/or registered community organizations can make neighborhoods less appealing with little oversight which impacts value and marketability.

North of Austin, the county regulations say you don't have to do it IF you're only doing residential, certain lot sizes and limiting the impervious cover of each lot.

When I appraised notes for the State of Missouri, the very first question I had was "Is this obligation enforceable, was it in compliance with rules, regulations and laws at the time it was originated?