I also have another unique option where I could sell off portions of my equity at $50 increments with a 3% fee - but I would also proportionally lose any cash flow and appreciation - so I'm not fully convinced that's a good option - although I understand I can try to use the equity sold to get higher returns, but I'd need to at minimum, cover the cash flow returns I've lost through the sale.

Would you still use your friend as your GC and just pay him his regular rate (and would they be happy about the new arrangement)?

Most lenders nowadays can go below a 1 to 1 ratio, but the LTV may get reduced and the rate will increase.

Amby,You could either Quit Claim it, like @Remington Lyman suggested, or refinance if you are in a position to (don't have a 2020 rate and have some equity in it). 

Our strategy is to buy land cash, take construction loan to build the structures.Some napkin math for this strategy:Land cost : $200,000Building and furnishing Cost: $400,000 for each A-frame (Provided we have electricity, well ready )Airdna revenue estimate shows $400 night rate with 70% occupancy.

Cashed out on a primary to buy an investment when the rates were good.

An example problem statement that I may have stated (and built the software for) in 2003, when I started investing full time: Build a tool for lead generation that collects county records from the county recorder's office (and property card data), finds the recent first mortgage defaults  from trustees websites or public filings for properties that are between 1000 and 1700 square feet, in a neighborhood of 90% like-kind properties with greater than 20 parcels, houses built after 1978, that can cash flow at current rates when fully leveraged. 

Most conventional investment property loans, which offer lower interest rates and 30-year amortization, require the property to be in your personal name.As a result, many investors initially secure the loan in their personal name and then transfer the property into an LLC.

If rent is not paid in full on the due date, you proceed with late fees, 3-day notices, eviction, etc.

This will be based on your rental strategy (LTR/MTR/STR, house hack, multifamily), down payment/loan amount, interest rates, and rents in the specific area you are looking.