creative or criminal?

[Lawson Ott]

an interesting idea that popped into my head has me wondering whether it is creative genius or technically criminal. so i am asking this community  (would be great if a real estate attorney could chime in) if anyone knows whether the law somehow would be against this, or if it is allowable.

the idea:
A) my LLC (of which i am the manager) gets a land contract on a house for less than $100 earnest money ($200/mo until $10k is paid)
B) since the property has an ARV of $40k, i personally get an FHA loan to buy it from the LLC
C) LLC pays off original owner and has $30k left to invest in new deals
D) i make my payments to FHA lender
E) eventually LLC makes enough to pay me high enough salary to then pay off mortgage

parts 2-10 of the question: if i have little to no cash to spend (might need 10% down for FHA loan [$4k]) can my LLC give me credit for the $4k (maybe for prior rents paid, or sweat equity repairs) and that count as my down payment within FHA standards? IF NOT, can i write a personal check for the $4k to bring to the closing table but the LLC does not cash it. or does the check have to be made out to the bank/lender for some reason? can it be a personal check or does it have to be a cashier's check?

not trying to scam. just wondering about working loopholes. i don't want to do anything illegal.