So the real question is this - Do you have a signed Change Order with this Contr that specifies the work to be done and the payment schedule?

Tough question to answer without some more clarity. 

@Kim Meredith Hampton makes excellent points, but she shouldn't have to.YOU should already be thinking these things through, so you invest wisely and don't get taken advantage of.BTW - yes, BP is where you can post questions for answers, but ask BETTER questions!

Current market value is between $9k-$10k per acre, so $540,000 to $600,000.My big question is I don't fully understand if/how I can use that equity effectively to help out with other BRRRR properties. 

This will be done through consistent cold calling and accessing information at hand Is there a question? 

I will list his known assets at the bottom.Here are my two questions: If the documents I sign show him as personally guaranteeing the loan (specific language below).

QUESTION: Is it worth posting for rent right now?

No question, rental real estate is the best investment provided you assess the risks and make it work for you.

I'm not sure I understand your question.

If you have any questions about properties in the Daytona area, I'm more than happy to help.