Does the bank count the rental income along with property value when looking at a refinance?

When you submit your property, give them the address, square footage, year built, number of parking spaces, traffic counts (if you know them), what other stores are within a mile or two, and so on.

At least nobody who will do it for you reliably and consistently that you can count on when you manage close to 500 doors.

10k tied up in a depreciating asset so you can’t really start counting cash flow until that is recouped.

REITS are fickle and can change course very quickly so I wouldn't count on them as an exit or safe haven.

Does the bank count the rental income along with property value when looking at a refinance?

Cycles happen in all aspects of life, so far it seems we can also count on economic cycles.

Will the equity in the home count toward the down payment if I refinance with a lending institution at a later date?

Not all the expenses before your start your businesses counts as start up expenses/ organizational expenses.  

Intention probably has a lot to do with whether or not it counts, so even the scenario I just posed will probably not pass a couple introductory questions from a lender; but go ask and that way you'll know.Using a lender to finance the renovations can have it's own hardships, like inspections before payments are released.