So, if it won't appraise for you need, you both are screwed and the property is now underwater.The "big boys" have these sorts of pre-sale reno programs. 

Basically a 1 br apartment with it's own entrance, separated from the main house by a breezeway area.We've decided to rent the apt furnished through a traveling nurses program.

Just received a letter from my mortgage bank that my current FHA loan is eligible for an FHA Streamline Program.

I started out with flipmoredeals.com not crazy expensive and I landed my first deal 3 months into program (I was completely new to the industry) That was 5 years ago and still have a great relationship with them

I was able to utilize a VA loan with some first time home buyer program and NO money down so I ended up rolling around $100k profit into my next property after two years with literally ZERO dollars spent.

I was able to utilize a VA loan with some first time home buyer program and NO money down so I ended up rolling around $100k profit into my next property after two years with literally ZERO dollars spent.

Not many  cash out  programs  for  land  out there ... try  smaller local  banks /  credit unions that  are  familiar  with the  area...if you have  another property - you might ask  for a  " cross  collateralization "   type   cash out refinance  

There are a few programs that can help with down payment, 5% down and some grant money.

They are coming up with investor friendly programs all the time which could potentially work for your situation. 

Of course you can always circumvent these by doing a 1099 exchange - but thats only if Congress hasn't revoked that program which very well may happen.There are lots of factors to consider, but those are the two I would focus on.