However, if improvements were substantial then indeed a Cash out refi will be your best bet, and depending on your credit score, and cash flow you will be between 75%-80%. 

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

I think its not a terrible idea at all and should be pretty good idea actually.I'd recommending reading this "House Hacking" book from the BP Bookstore as your best bet for next step and understanding this process!

You bet!

It might help pay for your expenses if you house hack but I bet the number of markets a 3.5% down payment is cash flowing has shrunk significantly over the past 2 years.

Talking to a local like Greg will always be your best bet.

I didn't stick around to see it sell but I'm betting it went to the plaintiff.Here's a question... if you could successfully line up financing in the period between the sheriff's sale and the confirmation hearing, could you close with bank financing?

And, I'm willing to bet that most landlords don't do much better than a 10% annual return on their funds.

If you want to bet on this, you can wait for a couple years before doing your cash out refinance.  

As for the land, with some looking around and a possible off market deal, with time I’m confident I could find an R2 lot for relatively cheap compared to the build.