After deducting $29,940 of commissions, profits = $41,645 and that is before income tax.Do I REALLY have to use a realtor each time?

Cost could change but the bigger issue is making sure the usage is still eligible for the type of policy you have.As an example, at the time of application, a company might ask are all lease agreements for one year or longer. 

We are exploring refinancing with our bank, however, I feel there are probably better options out there, along with rules with this type of investment, holding times, etc. that we just don't know. 

@Samuel Coronado I think a lot of it has to do with the time to develop the land and then fill the lots.

The real estate market can feel like a rollercoaster at times, especially with the current shifts we're all experiencing.

Thanks Hey Paul,It depends on who you are trying to appeal to.For example we did yard signs for rent to own properties we had and at the time (we were just starting out), we hand wrote "Rent-To-Own - Call ###-###-####" on them and they worked sufficiently. 

Ideally it would be mostly cosmetic and nothing serious as my free time is fairly limited with work/school.

My new bank requires that requires that I have a positive balance of 2 months escrow payments in my account at all times, meaning my account is a few thousand dollars "behind" on this balance.

What is the likelihood of approval, and what are the time and cost implications?

@Troy Fisher has been able to make it out several times, and is investing out of state.