Even go from multiple SFHs and consolidate into an industrial building.

Probably not since at the time I am unemployed (I work in animation and the entertainment industry is on its head right now).

I do not know yet if I'll be good at it (how can anyone know unless they try).I don't know any one in the industry - yet.

An appraiser is typically going to rely exclusively on the sales comparison approach and hopefully find relatively similar comps to compare the Subject to. 

As other PML business owners here have commented, this isn't uncommon in our industry but you can certainly find local or regional banks that would be easier to do business with and not require an audit - haven't heard of this before.

One lender may require the cash out be used for business purpose exclusively, another may not have the same guidelines. 

So rather than just getting a 'gift' one day, he will also have worked the industry and gotten his hands dirty....Passing on RE is such a powerful thing to do IMHO.

You can move out and rent it for up to three years and still sell and get the primary residence exclusion. 

Colleagues I know in the industry would only do this for their most experienced and financially capable clients.

Also, in Southern CA, we have a lobbying group named the BIA (Building Industry Association)...they lobby for pro housing legislation both at the state level and city/county level.