And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

Not sure when you purchased the property, but keep in mind conventional loans require 12 months of seasoning before you can use the appraised value for a cash out refi.

Read The Hands-Off Investor.Important to keep in mind here in late 2024:  The market has been in a down cycle for the last three years. 

My work is located in Louisville, Kentucky but I don't mind driving 20-30 or a little more.

Will definitely look at your post and thank you so much for offering your help I will keep that in mind. 

Most developers look at a piece of land and have a "end goal" in mind and work backwards from there.

You should check if the bank feeds work with your bank otherwise, it's a deal breaker unless you don't mind manually doing the data entry.

Piece of mind?

This is something I will have to keep in mind for myself in the future.

Keep in mind your other associated costs with being an agent.