Would need to know a bit more before giving a specific direction but it is usually best to hang on to your property and not sell whether you expand on it or rent it out and purchase a bigger property.  

Early in my ownership, a neighboring property owner approached me about purchasing a 6-acre sliver of my land that was undeveloped.

When analyzing a deal, the expenses data available (opex, vacancy, PM, capex, etc.) is at the time of purchase.

Or what are other ways I can access this equity to purchase?  

Yes you can find properties which you will be able to purchase, but ROI will be near zero or negative. 

I am subletting a property that I am planning on purchasing the set up where instead of any type of security deposit I am re-having the property which is necessary before I rent it out.I will have about $20,000 in expenses all before I purchased the property.

I would use my HELOC to make the purchase and rehab.

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

The house was purchased in October and is still in rehab.

Quote from @Fernando NA: Hello everyone,I’m considering purchasing a piece of land near Divide, CO, to build a small off-grid log cabin and list it on Airbnb or similar platforms.For those of you who live in the area or have experience with this, I have a few questions:>Is it possible to list such a property on Airbnb given the local regulations?