The annual cost of doing my LLC in WY is usually $200, less than my checking account fees. 

Just be sure to read the fine print and watch out for any fees.

However, you would sell these loans at closing for a commission or fee.

My prediction that these "bans" and regulations are all going to pretty much converge into reasonable middle ground regulations (mostly including taxes fees) is still looking very good. 

If the work is not 100% complete by the end of the Escrow period, may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.

Forget about the late fees and payment plan, you'd be lucky to find any judge who would enforce it when the tenant showed they weren't even living there any more and were still doing their best to pay off the balance. 

I just paid my attorney 15k today in just fees for 4 entitlement contract red lines and we arnt even under contract yet!  

You can totally do this, work with a realtor or PM and pay them a flat fee for helping turn the property / show the unit.

You're buying a trailer and a tenant pays the lot fees. 

Since the owner needs to pay your attorneys fees (essentially limited by statute, so can be estimated) in connection with a redemption, all of that math should be part of the planning.