Often times, their approval processes are slow.Credit Unions - Their member structure also subsidizes their financial structure so they can also be a source of low-cost financing.

IRS Approved" or "IRS Patented" @Yonah Weiss You are so right!

To determine price range, the first step is always figuring our how much you are pre-approved for; and that can vary significantly when you are looking at multi-unit properties because of the additional variable of rental income that can be included in qualifying.

The bank they are using with that offer is now saying my site prep bid came in way too high and not approving me (so far. still in process).

I have talked to the park management, and they said current owners do allow renting out as a rental, but the tenants would need to be approved by them. 

Credit score shouldn't be the primary driver of tenant approval, because if they could qualify for a mortgage they probably wouldn't be renters.

Is it tough to get approval for an ADU in the garage in Toronto?

That board would then approve or deny which would send the bill to the councilpersons for an official vote to put into effect.  

While this is municipality dependent, if the contractor is not licensed you likely cannot obtain the necessary permits and approvals.

So it takes comprehensive knowledge of the market trends, zoning laws, the local municipalities approval process, survey cost, subsoil conditions, irrigation requirements, development cost, utilities (gas, power and internet), city water or well water, city sewer or POSW to name just a few...A builder developed the farm field next to our SD, bought it for $1.5M and wanted to build 25 homes as a conservancy subdivision.