All transactions that your IRA engages in must be "arms length" (no personal involvement).

Engage with others, and magic will happen

You cant have construction drawings unless you have a civil engineering company with you and you cant have a engineering company with you unless you have a property under contract ..So, i would put that property under contract and then start engaging an architect to get a layout/construction drawings and once that is completed .. close on the land .. 

I typically suggest my clients engage a land development specialist to assist with this process. 

Contrary to many of the so-called "Gurus", wholesaling, In my opinion, is not something an inexperienced person should engage in.

You can tie multiple properties and activities together to meet this test, but that alone won't necessarily allow you to turn passive losses into active, it merely changes the presumption that they are passive2nd bar:  You have to show you are actively engaged in rental activity/property management for at least 500 hours in the year.

The ADA defines an “employer” as any person who is: Engaged in an industry affecting commerce;Employs 15 or more full-time employees each work day;For at least 20 or more calendar weeks in the year.

It might benefit you to engage someone that understands real estate investing to be able to take advantage of these discounts, as well as use them to double check your work until to you grow to a point where it makes sense to outsource.

There is a program referred to as a Rollover as Business Startup that allows you to use existing tax-deferred retirement savings to capitalize a business that you are actively engaged in. 

@Bruce Harding if neither you nor the seller are experienced with this type of property I would recommend you both consider the value of engaging an experienced agent to represent your own respective interests.