I'm trying to get an idea of how long I have to wait before being able to work on these things.

Fees should be clearly stated in writing, easy to understand, and justifiable.

Great tenants for 4 years should not be nit-picked. 

But if you are stuck with a higher rate, then you might be taking the right approach in offloading it. 

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

Quote from @Shalante Davis: Do you think a rehab loan would be a better strategy with a cash out refi?

The builder offerred $15,000 credit to be applied, however you wished EXCEPT can not be used for price reduction. 

This will be my first brrrr.

It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

For the quickest answers, search on Forum topics: this has been answered many times.On interactive Forums (like here), try to be very specific, starting with a topic title, like: "Need strategy ideas for working with private lenders".