After asking questions, I've been told that there's a staffing shortage at the Treasury Division (where the transfer and recordation payment has to be processed before the file gets sent to Land Records for the deed to be recorded) and the backlog on recording deeds is between two weeks and two months, depending on whom you ask.

Jamie took a full time real estate position in 2008 and helped establish the Real Estate Market's first commercial division in Knoxville and started his own real estate team.Jamie is a member of the Knoxville Area Association of REALTORS, the National Association of REALTORS, REALTORS Commercial Alliance and the Knoxville Chamber of Commerce and Farragut Chamber of Commerce.

This property, even when fixed-up, could not sell for no more than $375K in that area btw as it is a strange unique property.

It is truly unique, offers excellent ROI and the starting investment is just $10k: Have I Found the Holy Grail of Passive Real Estate Investing?

Any number of things can be buried in the county sub-division regulations and all of them have the potential to reduce the number and size of lots you want to create. 

So I am in a unique situation currently because I don't own a home and live with my parents (common cultural thing for South East Asians) and now they are moving to Virginia but aren't selling this home.

Always better to do a good job of defining the things that are unique to your situation even if you use a standard agreement of some sort.

The company is much smaller with no commercial division and only one office that does property management among the 9 locations in the area... 

Factors include: neighborhood, size, amenities, school districts, age of home, SF, number of beds/baths, and all kinds of other features that may be unique to your area (pools in Florida, for example). 

Unfortunately, your experience is not unique and it does not seem like you have many options.