A local foundation in Chattanooga published this handbook recently to encourage people to start small infill development there.

The park is across the street from a brand new development where land sold for around $140k/acre which is an encouraging potential exit strategy.

I appreciate the encouragement!

These kinds of analyses are not sufficiently granular to be meaningful.   

Thanks for the encouragement.  

These considerations encouraged us to consider a clean sale or perhaps a VTB with sufficient down payment and higher mtg %.

Outside of residential lending, I would encourage you to seek out commercial products from local lending institutions. 

Given that you are "waiting for the other shoe to drop" I would encourage you to refrain from a Cash Out Refi.Opening a HELOC, on the other hand, can't hurt, because you don't have to use it, and once you open it it's available for a period of time should another investment opportunity arise.

Thanks Kevin, appreciate the encouragement.

I have been encouraged by all the thoughtful and supportive people here on Bigger Pockets and I finally feel ready to start my Real Estate Journey.I am currently nestled away in Silicon Valley as a Software Engineer but would like to explore the Denver Market because my Partner lives there.