I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

I listen to their podcast daily while driving to and from work as well.

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

Also factor in if the rents jumped a lot and if that would lead to a vacancy, which will cost you more in the short term. 

JobsOhio projects that, indirectly, approximately 4,500 additional jobs will be created by 2035, further amplifying this effect.Implications for Real Estate DemandThe substantial increase in the workforce will drive demand for both rental and owner-occupied housing.

If there is anything I could do (drive by, analysis/insight on the area) I would be glad to help.

If scaling quickly is your goal, DSCR loans are a great tool for the refi portion since there’s no 12 month seasoning requirement like conventional loans, and DTI isn’t a factor. 

Is it fairly priced for the size, location, quality, and other factors?