These private investments are not regulated in a manner to protect the common person. 

Perhaps it's more common back East but getting a local bank portfolio loan where I'm at seems like a unicorn at this point. 

Make sure the Realtor you use is investment minded and can look at cap rates and options for AirBNB so you know the best way to utilize each property. 

My lightbulb idea was to sell the land and use that as the down payment on a small multifamily or apartment building here in the KC area, and utilize a Section 1031 exchange to avoid taxes on the sale of the land. 

We share the same legal address, utilities and airways.In this specific living environment with a spouse that has been hospitalized with allergies due to pets, can we decline to accommodate assistance animals in our own home residence?

Yes, there could be surprises at inspection, but utilities, lawn services, and leases should not be part of that. 

Non-traditional trade lines would be things like your cell phone bill, Netflix bill, utility bills, etc. 

You'll notice quickly that there is a common theme throughout the information and you just need to figure out how to apply it to your particular situation. 

This has allowed us to get rid of PMI and utilize a HELOC for any future investment purchases in the future.My best advice for you would be to find a local real estate agent who is familiar with what you're trying to accomplish, a lender who can offer renovation financing (and navigate it smoothly, as sometimes they can be more complex), and a contractor who will be able to take on this type of project with the bank.Best of luck!

@Ivan Barratt Curious why 65% instead of the typical 70% rule commonly discussed here?