Seller Financing Vacant Land Help

[Kenny Breeze]

My partner and I are looking to seller financing a piece of vacant undeveloped land in Colorado. This is our first vacant land seller finance, so we have a couple of questions.

My questions are:

1. Do we need to use a RMLO per the SAFE act and Dodd Frank or are we exempt and can we use any good old background credit check screening service?
2. Do we fall under the 1 or 3 property exemption?
3. I believe vacant land is exempt from the Dodd Frank act, but does the exemption hold if our buyer starts developing and then building on it?
4. What RMLO do you recommend in Colorado? 

Following criteria apply:
The buyers are looking to use the property for personal use
The buyers want to develop the property as soon as possible (install utilities, land entitlements, build a structure)
Our first seller finance deal this year 
Preferably our LLC should be the loan originator and not us as a natural person
5 year balloon

Thanks for all the answers in advance.