There’s no real way to create phantom losses without running into issues with the IRS, and you could end up losing important tax benefits.

It sounds like you have a great background for investing as well as assisting other real estate investors in buying suitable real estate. 

We know how challenging it is to navigate real estate, either starting out or as an experienced investor, especially when it comes to creative finance.

.: When I started I moved to where real estate was the cheapest in the country.

I spoke to them about 1.5 months ago and since then they have been non-responsive that makes them look like not the real deal and I'm wondering if they are still around and active and good?

But, that is just not how residential real estate works - that is how commercial real estate works.

Here is the BEST way to develop an understanding of the risks and rewards of redeveloping your propertyBEST - Hire a CRE - Counselor of Real Estate to do a complete market analysis.  

The reason is that the parent LLC does not own any real estate itself—it simply functions as a management entity.

Consult a real estate attorney and CPA to finalize the LLC structure and ensure the transaction, tax filings, and ownership terms comply with state laws and IRS regulations.

I've been studying different real estate strategies and would love to understand more about how the permitting process is evolving in that area.Did the realtor mention any specific changes in local ordinances, or was it more of a general observation based on market trends?