What I'd like to know is if it'd be prudent to take out about half of my equity to pay off my current debts because doing so would free up over $500 extra every month to save for future investments.

Like mentioned above keep your eyes peeled for something you can improve or see creating the extra value possible in SD.

Although tax deductible, the extra expenses are still expenses for llc.

Doing so would free up over $500 extra every month to save for future investments.

When buying drywall or kitchen cabinets it is worth the $20 to deliver plus you add a few extras to the list.

NN and also leasehold you better be getting a very high return for the extra risk. 

Co-worker of mine is going to show me how to buy, repair and flip homes for extra money and financial future.  

You can save that extra money and buy another cash flowing property elsewhere.

Fixed the laundry abuse problem, i charge the same amount of rent and make a little extra on the side from the use of the washer and dryer.  

The slight extra they are allowed to hold is to cover annual tax and insurance increases that they can't effectively predict and budget until that year's payments go out which is too late to collect them.