The new home needs renovation and he was was wondering if I would make a loan to pay for the renovation of his new home. 

You might add the weighted interest you are currently paying, to see if you actually save money by refinancing your primary.For your 1st investment property, if you want to do a cash out Refinance on a DSCR type loan, you will need to get a minimum loan of $70,000, at 6.6%, you would need to have the property rented for a minimum of $900/mo, assuming taxes are about $2k/year, and Insurance is $750/yr. 

I have been told by few brokers that national tenants need 1 acre to even consider it.I wonder what tenants might be appropriate for this location.

3.)How proven will the property need to be before refinancing into this type of debt?

You now have to sign a binding agreement with your agent stating how much they will be compensated for their services prior to doing a showing.

We tend to buy stuff in the 200-275k ARV range but pick them up needing rehab under market value.

property is currently in a reverse mortgage need $308k to satisfy. currently 3 units and wanting to remodel to create a 4th.Rural low economy market with high demand and very few rentals available in area.

Next day to get more wood and put around hot tub, build fire and wait...Next day need to clean out the ash so there is room for to lug more firewood over and start a fire and wait...See any potential problems or causes for a bad review?

You’ll need to hand over a large chunk of cash that’s just going to go to state and federal government, maybe 25-50% of the total gain, not just on the current property. 

Better yet is to buy well so you can pull as much of your own money out as soon as possible to replenish your reserves and have dry powder to put to work for the next deal.