When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

You'd have to do the research locally, market by market, to determine who the players are.

Use your superior knowledge, experience and analytical ability to spot something in a property being offered for sale that everyone else has missed.  

“Money goes where money is treated best.”Your future ability to attain and maintain financial freedom depends on the city where you invest.Investment TeamAn essential location selection criterion is an experienced local investment team.

Lenders won't value it off the income approach unless it is a 5+ unit and even then, the LTR market rents are more often used to determine value.

I'm currently trying to determine the feasibility for a park on that property. 

It sounds like the issue is with the Debt Service Coverage Ratio (DSCR), which lenders often use to determine how much they’re willing to loan.

The goal is to determine whether the government accurately adjusts DoD Basic Allowance for Housing (BAH) rates and to develop a predictive model to calculate possible future BAH rates for specific locations.We have pulled rental data from Zillow and historical BAH rates from the DoD.

 @Puneet Mahi as others have stated, I would do a deep dive on the markets inside each state to determine where you could have an advantage AND where your family would like to live.