The economic indicators still look good and the prices relative to income have not increased to nearly the same levels as some coastal cities.

If you just straight refinance you will likely increase cash flow a bit but not have the money to go after another property.

This push parlayed with residents looking to escape higher-priced neighborhoods/taxes to the East, has driven JP home prices at a 17% higher clip than Chicago's average residential increase - stat from the above article. 

While the work is rewarding, it is not increasing my own portfolio.I’m 58 years old, have terrible credit and besides my consulting business, am not employed.

For example, with the townhome I currently have under contract, I found that my monthly expenses would increase by about $220 a month from what they are right now. 

You can always hold out for that rent, but then you'll need to increase your vacancy estimate :) 

I bought in this area of Chicago because of knowledge of the market and the increasing home values.

Even if you decide developing it is not something you want to do the value will only increase as housing damnd increases because of the new jobs.2) - Do not go to a contract and start talking to them.

Your ROI increases the less of your own money you use.

On some policies this is an optional coverage, on others the standard policy starts at $10,000, but can be increased.