If you are talking about refinancing to stretch your payments out over a longer time, that is also an way to increase cashflow. 

The tax treatment of your land sales would typically be determined based on when each parcel was sold and whether they were held for investment or business purposes.

Now is one of the best times to get into the market, once the Fed starts lowering rates that's going to bring more demand into the marketplace causing prices to increase at a faster pace again so if you get in now you capture that growth and get the opportunity to refi when rates are more favorable in a year or two.

@Sean Gribbons we completed a condo conversion and you are correct, the unit sales could not be traditionally financed until the very end of our project.

Securing 2nd position financing is difficult, and increasingly so when the property is already levered at 70% LTV as your example. 

To confirm, the idea is that the owner would exchange proceeds from the home sale,  for fractional ownership in an REIT institutional grade property with an intermediary (1031 portion).  

is the project cost following the sales pitch ?

It is OK to overedit for sale listing photos, but not STR's. 

You just have to increase the equity enough that the new loan will cover your previous acquisition cost+ expenses.so you can get all or most of your money back out to go do it again.

I understand this is not an easy task as the price in those areas are increasing, but we're trying our best to keep the maximum budget at $500K for the primary residence.- We have started the pre-approval process with a lender and have a realtor we're working with to purchase the houseInvestment Strategy:- Aim to maximize cash flow while seeking appreciation.- Ideal cash flow target is $2K+ per month.- Planning to allocate the remaining $250K towards purchasing two properties in the Midwest market (e.g., Cleveland, Columbus, Indianapolis, Kansas City and open to exploring new areas where the entry point is affordable but the cash flow is stable).- Seeking properties that can generate $2K+ a month in combined rent after factoring in property management, insurance, and property tax expenses.Seeking Advice:- Would purchasing two houses in the Midwest to achieve $2K+ cash flow per month be a sound strategy, or do you recommend alternative approaches?