From there I would reach out to possible developers that want to take it to the next stage, some may want to buy it outright, or maybe you can convince someone to let you JV with them if you front the land in total or in portion. 

To help prospective buyers envision possibilities, a great approach is to virtually stage the place, and also offer alternate floor plans.

I heard Lil bit about fha loans want to learn more or how can I come at this first stage Lil better?

Currently I am in the due diligence stage and looking to get estimates of what it costs to build per square foot.

At this stage I would keep things simple. 

We are in the very beginning stages of our careers and we don’t foresee having the time to do all the research.

Seriously, at this stage in the market.

The new house is in a very good neighborhood, and I need to act fast while its still under the owner-occupied stage.

It's just for show, as far as these guys are concerned, the money belongs to the rich co-workerSo it all depends on your personal situation.It's funny that the bank made all this fuss during the qualifying stage, but at the closing, they don't check or care to see where the funds came from.

If separate, then what are the costs to get to beginning stage of building?