Knowing it would be a better deal to purchase everything I changed my strategy to include the opportunity. 

Below are some quick tips about cash out refi vs HELOC/LOCCash out Pros-tax free money-low interest rate-fixed monthly payments unless you choose a variable productCash out Cons-closing costs (couple thousand)HELOC/LOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costs on residential Helocs; there will be closing costs on commericial LOCs-commericial LOC is very fast moving as far as getting funding and refinancing  (Makes it easy to rinse and repeat)HELOC/LOC Cons-higher interest rate-variable rates-monthly payments depend on amount borrowedHope this helps,CB

It will be difficult in my opinion, unless you can change the use of the land by petitioning for a zoning change with the city council, and then try to sell a re-zoned single family 4 unit parcel to a small developer.

The rental has a mortgage and while I did find an article that spoke of not violating this clause since the property is not changing ownership, I'd like to find out some more about it before taking steps.This is the web site where I first found statements eluding to the implications of the due of sale (still researching):http://www.creonline.com/beat-the-due-on-sale-clau...This is about 3/4 of the way down the page under Enter the land trust "The trustee holds title for the benefit of the grantor.

Now there is something called due on sale clause and this can be exercised if title is changed out of your name. 

With this in mind, I am contemplating taking capital out of my Roth IRA, take the penalty and tax hit to be able to grow as fast as possible in buy and holds.

Personally, I would prefer 90 days because markets are always changing.

Fast forward to now, we have both became licensed Florida real estate agents, with a high focus on military members (since I am still in.)

This exercise can change your perspective on investing and possibly change your life as well.Best to you!

I am pretty new myself and I have had a lot of luck learning fast by listening to the podcasts.