I'm not sure how it works in Pennsylvania, but in Texas, where I'm working on a large-scale historic renovation, the city planner is helping me navigate all the different bureaucracies.

@Robin CoxWelcome take full advantage of the BP resources.Consider consulting with a certified mortgage planner to develop strategies.Paul

I've had the real estate discussion with many financial planners over the years.

With my "day job" being a financial planner...I could tell this guy was going to get charged 18 months ago just based on his interviews.

You need to find a financial advisor and a tax planner.  

There is a small incorporated town in California that I have a rapport with many of the City Council members, including City Planner, City Manager, and Mayor.

I had a meeting with the Orem city planner and he said that all of their growth is from going up as they have very little land left to develop.

My biggest question (aside from the obvious coordination with a tax planner) is what are the potential pitfalls with this situation? 

However, to make real profit, I buy using Subject To and sell on Lease Option which I explain at https://www.biggerpockets.com/forums/311/topics/1141313-subj...While it isn't "no money down" it is still reachable for people who are planners, who think ahead and who are committed to real estate investing. 

Along with the professionals you trust to help make these decisions (CPA, Attorney, Financial Planner, Insurance Agent, what have you.)