My plan is to continue to operate the LTR, get approvals for my already initiated project one way or another from the board/or not since I've already put in a fair amount of money for turf/installation, and respectfully decline this additional potential $6k charge. 

As your income grows or your needs change, this initial purchase could also potentially be converted into a rental property down the line, adding another layer to your investment strategy.

Initially he started doing is own bookkeeping and after his 2nd deal he said " If you can help us everyday, I will take your challenge to cover your fees and you and your firm can be our CFO"Challenge - Buy 5 properties and sell or rent at least 4 in the first month.

@Kyle Klinethe best way to build initial capital for RE... is from a W2 job.private money isn't really a beginner strategy... and if it were easy to fix and flip to generate capital, we'd all have side flipping businesses. 

I am looking to purchase in cash initially and then refinance. 

Don't just let them write you a regular check and see it bounce when you go to the bank later, or initiate a transfer that can later be rescinded.

My initial hunch is that there may be extremely limited options of what can be built, and a likelihood of nothing being allowed. 

Or based on the initial estimate you gave them when applying?

It's worth 50% more than I initially invested and I've pulled out all of my capital via cash flow.

Initially my investing was buying my own trailer house to live in, then it became a bigger nicer trailer, then land and trailer, then house, then a second house, etc.