The shorter the prepayment term has an impact on increasing the rate.4.

Land that you're not personally developing most of the time falls into two categories - either you're speculating that development is coming that way, and will increase the demand for the land, or you're changing the current permissible use of the land in such a way that it will be worth more money now or in the future.

I can make improvements that increase the value.

I would caution you against increasing the down payment to make the numbers work.

It's not profit until you access it in some form of cash.I've seen investors loss properties with equity (a few with a lot of equity) because they can't sell at a price high enough to gain that equity, or because they can't refinance it due to the negative CF,...which would increase with a new mortgage.

I request credit limit increases every year on all my cards.  

Mining operations are ramping up quickly, so the supply is increasing.

The shorter the prepayment term has an impact on increasing the rate.4.

So I think moving the lot lines so the house and 2nd lot can be sold separately or even developed and also doing a moderate level renovation could really increase the value of this property overall. 

This is especially true since I often look for properties that allow for tax grievance potential too further increasing cash flow.