Mostly likely you're aiming for a cash out REFI, but if the numbers don't work it's going to be pointless. 

Also, who would be doing the measuring of the 600 feet?

Aiming to stay under $55/LF including installation. 

In formulating what a bank will accept for a sales price, they start with an appraised value, deduct for carrying costs and they also generally have what is called an "REO stigma" that they can into consideration.The REO stigma is a measurable discount banks see in the market once they take back a property.

So I aimed for financial independence/early retirement (FIRE) by indexing and risky investments. 

Sure, it may have appreciation but success and failure is measured by achievement of objectives and if the objective is cash flow, it can't be considered a success based on appreciation.

That said, we like any business do get a few clients who operate on the "ready, fire, aim" principal. 

.- Aiming for SFH in Richmond, VA and I have a starter spreadsheet of insurance agents, realtors, home inspectors, mortgage brokers, and contractors that work in the area.- Ingesting as many BP podcasts as I can!!!!

That’s super high level though and maybe still not the best measuring tool for analyzing markets. 

You would have to work out the math to see if paying the points and higher interest rate on the HML would be worth it of course, but if the value is there and makes sense from an overall profit standpoint, a HML could be useful to buy it quickly with the aim to Re-Fi it out as quickly as possible.