Before you can be creative and think outside the box you must know what's inside the box, what the rules are, how transactions can be engineered, how to use other assets, monetary assets or your abilities.

I just want to hack or speed up our ability to invest in RE.

I want the ability to do lease options here in California and I know you are in SoCal.  

Additionally because of the strings attached I don't have the ability cash out any of my equity (but I do have quite a bit.) when I bought this house I knew nothing about real estate.

A lender policy insures, basically, ability to foreclose and retain that priority.  

In many cases, the child will have the ability to own and control legal title title upon reaching majority at age 18.

If income is sketchy, infrequent, inconsistent, unseasoned, or uncertain then the bank is required to exclude it when considering your ability to repay. 

On top of the actual raw score that info can help evaluate a tenants credit and ability/willingness to pay bills as well.

Your credit score will have an effect on your ability to borrow, regardless of whether or not you own the property with 100% equity.  

All,The umbrella policy was referring to my own, existing homeowner's umbrella policy, which had the ability to cover additional properties (liability only).