Please feel free to skip the details and someone may be able to answer my direct question at the bottom of the post. 

You could pull some cash out to do the renovations and then refinance on the ARV once its done in 6 months and take out more cash to buy another investment home or rent that one out and buy a New primary home.If you have any questions on the steps or the process feel free to reach out or send me an email. 

I’m in the area As well.

In general, if there's nothing in zoning or the deed restrictions prohibiting the division of the property, it's mostly just getting it resurveyed and presenting the new subdivisions to the local government (county usually) to have each lot recorded as separate parcels.

Feel free to DM me to set up a consultation!

We have a neighbor of a tenant that has called the hoa regarding the tenant smoking in the back yard. 

@Vinay Sanapala your naivete will get you eaten alive.Look at who is posting what in response to your post here.

What is the rate difference? 

Currently working on the floor plans.

I saw your previous post about a year ago as well.