(about 200K in equity) When I bought purchased, I barley made the DTI requirements with the skin of my teeth as I only bring in about 35K a year at the time.

Options are there for full seller / private finance, however if they are requiring security of 20% down on the cost of the property (opposed to the value of the property) then I currently don't have much reason to go through private funds.Lease options are still an intriguing option to have time to gain additional funds for down payment, just need to make sure the option is possible, especially if putting any work into the home to increase it's value.Speaking of that, is it possible to have a lease option, renovate to increase value, and use the built in equity as part of the 20%?

So now I am the sole owner of this single family home and have 70-85k in equity (depending on the appraisal).  

If I don't see $30,000 in equity once the project is done, I move on.  

at ~300k, could/should I use that spread in equity to finance repairs and or reinvest in another property?

For me, the debt paydown and appreciation had given me about 60K in equity so I pulled out 30K and got a better interest rate than before. 

I invest in equities on a swing basis.

Do not pay off the mortgage instead pull out the equity and reinvest, Money tied up in equity is dead and not earning it's keep.

My situation:  I purchased my home last year for 165k, and have roughly 45k in equity. 

I have a home i own outright sitting on about 800k in equity but because of a couple factors on my tax return i wouldn't be able to get a conventional loan.