Is there going to be a cash flow positive situation??

Secondly, if this fails, he offers insurance through Equity Assurance that basically pay offs the underlying note through refinance.

I've got about 250k of equity spread across 5 SFHs that I've acquired in the last year.

The numbers showed that option 2 closes the performance gap as I approached my target retirement age (65+) and exceeded it in retirement.My calculation does not factor in equity appreciation - just compounding of present value.I like the fact that option 2 gives me income while waiting for retirement. 

I don't want to miss a good opportunity but I am also ok being patient - just trying to get all my ducks in a row, so I have the knowledge if something does come along - our credit is 800+ and we have about 900k in equity in our home with a 3.625 interest rate. 

After the sell of my house I'd want to purchase the farm, I could use the equity remaining in the hose to cover closing cost of the farm. 

Since real estate is covered by state and local laws, it’s up to state courts to rule on this position.

One option that might work for you is to partner with others who are willing to provide the down payment capital in exchange for equity in the property if you are willing to do the leg work for it.

Ideally these properties will have positive cash flow + buy and hold potential (probably goes without saying). 

Consider the potential equity loss and cost to originate another loan versus your REI goals.