We do some cosmetic improvements to bring homes to our standard, typically carpet and paint, upgrade lighting etc.

Quote from @Stuart Udis: Not creative, but good real estate and traditional financing is almost always better than incredible seller financing terms and lousy real estate.

I cannot qualify for traditional conventional for multiple reasons but the over 200 to 1 debt to income ratio is a primary reason.  

@Raj VardhanI agree with @Evan Polaski regarding the 6-Month Seasoning Rule: Most traditional lenders require a 6-month holding period before you can do a cash-out refinance.

Traditionally I have sold the builder land and loaned him the money to buy the land and build the house with us splitting up the profits when it sold. 

Poor lighting.

The problem we are having is much of our current deal flow is below traditional lending terms (<$75K).

If you’re working with a community bank or a traditional lender, these issues may not be as relevant.

If the prices work where you are, I think with your experience, you could go right into a four-plex and do fine, especially if it was light to moderate value-add because of your knowledge and connections.

There are many light companies to choose from here.