Has a town address and county roads.Most of the acreage is viable for development per a previous soil study.There are federal Grant's to assist with infrastructure. 

That would have been difficult to do today since today is a federal holiday, so this actually may work out better for both of you.

One of these days MN is going to experience the pension problems now starting in CA and IL.  4 of the 5 top employers in the state are State or Federal government. 

An LLC is a legal entity that doesn't exist at the federal tax level.An LLC can be taxed as a Disregarded Entity, Partnership, S Corp, or C Corp based on number of members and elections made.An S Corp is a federal tax status (that many states also follow) that doesn't exist in the legal world.An LLC taxed as an S Corp vs a corporation taxed as an S Corp is the exact same at the federal level (there are potential state differences).

Do you have a federal tax ID number?

And because the federal government had set those laws and standards,  lenders "enthusiastically" followed their lead.

This avails yourself to accountants across the country who are familiar with federal taxation.Just to understand, you purchased a duplex and living in 1 unit.

Tinker Federal CU and Oklahoma Central CU. really any local credit union. 

@Ashish Acharya is correct here regarding federal treatment. 

I did on our investment property in va through penfed federal credot union.  80 percent ltv ratio.