However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

Garage parking, full privacy fence, and second living area or bonus room would all be needed to get on the higher end of that range.

Would a DSCR loan be a better option than a hard money loan for this project?

BIG bonus is you snag something with Timber that will grow and you can do a selective harvest 20 years from now the Timber could end up paying for the building of the home.

Would a home equity loan be a viable option in this situation, especially in regards to eliminating some of the red tape I'm running into with a refinancing an scorp-owned property?

Yes, House Hacking seems like the most ideal option when considering my first investment (open to other forms of ownership, such as live-in flips as well).

I’m hoping it will get me a better interest rate and payment so my rents can cover the mortgage.I will be reaching out to you guys to see what my best options are.Pretty cool to have this community to help figure out problems  It depends on what you are trying to accomplish.

However, there are better options than $180 a month and $1000 for a WP site. 

When my loan was not going to close, it was one of the options that my broker and lender told me about and actually referred me to for a conversation.

House hacking is probably your best option.