Is this a possibility and what are the benefits / concerns to be aware of?

If tenant happiness is the concern, then there is one main use of the money, right? 

When I spoke with my banker they were suggesting me to go with cash out refinance because of the current concerns about inflation and interest rates skyrocketing with a HELOC if inflation goes crazy.

Our Concerns:- We cannot hold seller directly responsible for this as the county tax records show it as 2380 sq. ft. - The price we agreed is for 2380 sq ft. and the option period has lapsed. - When we put this on rent, can we calculate rent as per 2380?

That said, I don't think any of us has seen the entire contract so anything written here is just speculative interpretation concerning your legal options.

I was considering that too, my concern is the downpayment cost for those as a first-time home investor.

Bit concerned as this is my first time restructuring my home and I've got no idea, the city notice I received said it is typically done in every 5 years.

My concern was using a general CPA or one that specializes in real estate when I first begin to invest. 

Rockwell Institute is the best as far as I am concerned.

That has been a concern of mine, as I have only owned SFR to this point.