If your credit ****** you need to hit up creditrepair.com or some other credit repair  company  and work on getting yp to about a 680 or more with you learning  from jerome.   

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

I own the property free and clear and i use the equity as part of my business line of credit.

Since my adjusted basis is about 50K, am I going to have a $250K gain on my income taxes this year?

I haven't spoken to the county yet, but will make that phone call today.As far as financing -- I was leaning more towards getting a business line of credit or using a business credit card and rolling it over to interest free cards.

There are many HMLs that will finance new construction, but much of it is based on your experience, credit score, and the expected sale price.

Should I follow through with background checks and credit score, waive the application, or something else?

The fees for us to do it were $492.50 and you can see the lender credited those back to us. 

At least 2 US credit scores required to qualify.

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest.