Many investors are attracted to lower price points but end up losing money because cheaper properties are higher risk (not good locations, rough tenants, lower quality construction, etc.). 

Construction Costs and Building Phases - How do you calculate per-home construction costs for tract developments?

Some renters become home inspectors and will tear your place apart regarding anything (maybe for a discount).  

But, you can't have constructive receipt.

The HVAC and water heater estimated to be 6 to 8 years old by the inspector.

Started with a condo in construction, sold it when done and bought a beach land, sold the beach lend and bought 2 rental townhouses for rental in Greenville.

I’ve been an electrician for 10 years now, so I have a construction management background. 

I plan to put two duplexes on the property but with this high appraisal is there a smarter thing to do to pull that money out of it or just use it for better collateral for the construction loan most banks will lend on the transfer price within a seasoning period. we face the same issues for land entitlement and development.

I have dozens of clients doing this in New Jersey most of which come from no construction background, they simply use preferred vendors we have in place (not GC's) which lowers renovations cost because there is no middle man. 

I know from experience financing additional tiny homes (not sure if you're looking to do this) can be difficult without having someone that has previous ground-up construction experience.