Given the details here I'd say no, you should take any development thoughts off the table because to do that is not something one simply learns over night, there is a lot to it. $209k is very cheap for 40 acres, so that offer could be a person interested for hunting land and nothing I'd get excited over, and I wouldn't assume it means anything other than you could sell it for $209k. 

I was ultra conservative in that I did not max out the equity available to me but left some on the table for the in case scenario.  

And they had a placard on the entry table that said no one is perfect but we do our best please leave a 5 star review!

I'm currently doing a cash out refinance and taking about $300k in equity while leaving equity on the table still so that it cashflows whether it's rented out long term, or as an a short term.

Refinancing a hard money loan to another hard money loan is not easy and may require the borrower bringing cash to the table if the ARV does not support the rehab budget and loan payoff amount.

Do roll out tables. 

., and pick it up in three days, and in colors and sizes not picked by a homeowner, there is little or no bidding.

Enlarging master bath: again, this depends on the size of the bedroom itself and still being functional in its smaller format.  

Calculate the size of front and back, then do the math.

Depending on the size duplex you get market rental rates are $1000-$1250 in Lehigh Acres.