For a smaller piece like that, not sure how creative you can get, but it all depends on what it's zoning is, access, proximity to other things, etc.  

I built my team through networking on places like BP forums and FB groups.I have since moved to Indianapolis from the west coast to continue to grow my portfolio here and have expanded my business to include support for other OOS investors who need the same support I did when I was remote.

If you pay off your mortgage (which is a good interest rate), you will likely burn through that cash flow as it is more accessible, AND that money isnt working for you anymore (unless you reinvested it).  

Areas like Logan Square, Lincoln Park, and Pilsen attract renters due to their trendy amenities and access to public transit.

This will allow you to remove the person and do the financing on your own.Home Equity Loan/Line of Credit: Since you're looking to access equity, a home equity loan or line of credit (HELOC) can be a good option.

Favorable Leases: Tribes can offer long-term leases (up to 99 years) with attractive terms, allowing access to land without full ownership.6.

You need a repair partner who can get out immediately and has quick access to replacement parts (if not already in stock). 

You want access to equity but you also want access to the full profits without safrificing it to expenses to expand your business.

The Banderas Bay area (from PV to Punta Mita) has lots of potential with the economic growth and the tourism industry expanding north towards San Blas with over 30% appreciation in the past 3 years.

I'm now considering expanding my real estate ventures into building custom homes, but I know this is an entirely different beast between the required capital, learning curve, time committment, etc.