To start with, you do not have to convert TTF to OTF. ADE supports both types of fonts for embedding. Second, just play around with line-height and you can then fix the spacing between the lines.
As for including images in the ePub to simulate the handwriting, I agree that it's a bad idea in ePub to do this when you can make it look nice with an embedded font that will re-size when you want it to.
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