I think its rare you can take a model you're doing in this are or product and just move it somewhere else or on to some other product.To me, If you have a niche that works and you're good at it and the numbers are strong,  I believe you should put everything you have into that business model and grow it and grow it fast while the getting is good. 

You can proceed with a cash out or rate and term refi up to 65-75% LTV depending what product and terms you choose.

"Question: have you ever filled out a spreadsheet of cost and lifespan of each product of a property?

When I saw this product offered through CapFree Xchange and Appreciation Homes (out of Dallas) I was hesitant.

And there is a lot of superior options out there in both product and methodology. 

For your part, it might seem like a free roll of the dice to go to court, but there are surprises and landmines along the way, litigation always takes far longer than anybody expects, and the time and emotional expense of fooling with litigation are energy drains on more productive endeavors.

I would lean more MTR or LTR regardless of product type.

Seems doable, depending on a few factors will determine what the right product is for you.

I cannot assist w/ the acquisition of the property but do have an FHA product that is specific for home improvements.

Theyre great products for self employed borrowers who will not qualify for traditional loans, but there's a premium for that convenience.