DSCR stands for debt service coverage ratio. to calculate it you take the lower of the two lease agreement or rental survey from the appraisal.Divide it by Principle interest taxes and insurance. 

Survey and divide the parcel and sell the rest of the property.Those are just some suggestions and they may not all work.

Development costs were limited to construction of driveways, the private road, county fees and surveying.

@Logan Larochelle  There is no way around most of the fees but they are lower than a purchase as you likely have some of the items like owners title and survey.

If you leverage after seasoning you can get ~82,500 (minus any survey, appraisal and origination) in a cash out if your 110,000 ARV is on point, and make the remaining money back in ~4 years.So get ~$78,500 back out of the property and make ~$1,600 annually, or make $6,900 annually.  

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(I've never done a survey but I wonder if maybe the split follows the mortgage vs. deed of trust divide :)If you actually have a deal you're working on and want a good real estate attorney I can recommend a few, but most of them are very busy (like good contractors) so they'd rather wait until someone has a deal under contract than spend time with tire kickers.

You will probably have to get a survey done to parcel out one piece of land for the demolished home and another for the new one.

I went to survey the damage and was dismayed.

And if you will be keeping it you may want to do an inspection on it or survey if it has a lot of land.So in reality unless you know how to accurately process the paper work yourself then some money will be needed.