My goal is to leverage that equity for additional income.

The income requirement was $6000.

Account ClosedAdding your property manager as "additional insured" is standard practice and beneficial for you.

The IRS views it as taxable income because it’s not being used for the purpose of deferring taxes under the 1031 rules.For example, if you sell a property and only use part of the proceeds for the next investment, the leftover amount (after paying transaction costs, etc.) is taxed.

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

Additionally, I would like to attempt to do the process Owner/Builder with subcontracting work out as well as doing some of the work I'm comfortable with (I have some experience with bathroom & kitchen remodeling an am not new to the construction industry).

The landlord should be named on the tenant's insurance policy for additional protection and to assist with tracking compliance.

I am considering building up on my fourplex. 2 additional units.

I was interested in something like owning a rental property as a way to generate some additional income. 

(income = 3 x monthly rent, Debt-To-Income, etc. can still be used!)