If it takes all or most of the proceeds from the sale the settle the debt then there would be little to no income.  

IE: we are sick of rentals we are selling them but we need monthly income so we are going to invest in Deeds of Trust with you !! 

It offers tax benefits, such as mortgage interest deductions and depreciation, reducing taxable income.

So, to get funding, you probably need some kind of asset based lending where the lending is focus on the value of the asset and the ability of the asset to generate income. 

If you're trying to replace your work income I would recommend starting in a strong cash flow market like Cleveland, but if you're ok working for a while then you can buy and watch your property appreciate in Columbus. 

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.

LOC's can have negative effects on your future purchasing power if not set up correctly and keeping in mind you can "never" use an LOC as a reserve or asset.It will always be a debt burden and can over inflate your back end debt ratios depending on the W2 income and your liabilities.

That being said, if you are doing a non-income based loan, then you wouldn't have an issue qualifying still.

Financially my full-time job is our main income as a family.Job is demanding.

A lot of these numbers of what I have pulled from the real estate listing, and inquiring on property management/landlord insurance rates.I am not looking to make a fortune overnight and realize this would be a slow return on investment/passive income.