If you can raise the value enough through forced appreciation, you could refinance (or just put financing on it in the first place in your case with owner financing) to pull out equity and purchase another property, (BRRRR).

Naturally this led the person to come to our property & set our tenant's car on fire.

We pulled away from the deal.

If I am able to find a deal, and buy a condo for 80k so lower it from 110k to 80k, and then renovate it would i be able to refinance it, and pull money out of it?

@Ken Nyczaj to save you some further headaches and quickly identify your water leak source, I'd suggest having your builder, or you, get a simple water pump and 50-100 ft garden hose (link: WATER PUMP) which will pull the standing water out of the area, and put a carpet fan (link: LIGHT DUTY or HEAVY DUTY) down there for a few days to dry everything out (especially your wood framing and the insulation) to prevent any further/potential mold growth.

I will be doing the following for them: Digital Marketing: setting up and deploying automated email campaigns, helping them with the design and layout of their direct mail pieces, helping to pull lists from a database (Rebo Gateway), marketing strategy to determine who to target, frequency, etc., recommended and maintaining software, systems, and lead databases. 

Should I refinance and pull as much out as possible for my next deal?

In the midwest, I don't even take a police officer pulling me over literal.

It’s an easy process, but can get pricey based on the depth and what needs to be dug through (and later replaced)There snare companies that do trenchless replacement - basically a hole is dug at the curb and the new pipe is pulled through the old pipe, breaking up the old pipe in the process.

I have always been interested in rental property investing and naturally stumbled upon "The book on rental property investing" after reading "rich dad poor dad".