I have already extracted 8 digits from my RE and all loans are non-recourse.  

I think you are trying too hard to be nice here instead of looking at it at arm's length and sticking to the deal that makes sense for you.

I don’t even know if I want to do this, so I assumed I would leverage the forum to help me decide if I’m even interested and then consult an attorney, armed with some information to review the contract I guess I saw it as similar to hiring a property manager.

They will have for these new projects their own property management arm, an insurance option as well i'm told.   

I'd also like to ask if the rate difference between 30 fix and 5/6 Arm is now typically less than 1%.

Separately - if anyone knows a digital interior designer would love to pick there brain for an hour and obviously willing to pay. 

I regret every property I sold 10 years ago (except the ones in the hood, that was a short term experiment I am glad I got out off).Your total net worth contribution is a lot higher than 0.6%, just the paydown of your loan is double digit ROI.

In case you were interested in the cash-out refi loan- looking at 15 year 7.25%-7.65% (yikes) 3 yr or 5 yr ARM with no early payment penalty.

I am going to be the financing arm of a new build and sell business.

If you'll be living in the house and renting it from your parents that is fine for a 1031 replacement (make sure it's an arms length transaction of course).