Our firm is planning on starting a Portal (legal term) next year on our roadmap because with $5M as the new threshold this really can move the needle for certain projects and sponsors.  

For example, I am a little concerned about some aspects of the business cycle recovery and a potential for a double-dip so I lean toward the safest part of capital stack which is debt (or low-debt equity).

I'm not a CPA, no legal advice given.

The country has massive debts and deficits. 

Just a worthless piece of paper that validates a promise (legal obligation). 

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

Any existing debt?

Well, what would be happening is that your buyer would be buying your house subject to the existing note, since you can't legally sell the property without paying off that note or transferring the debt to the new buyer.

They seem legit insofar as everything seems legal and kosher.  

If you know of any legal entity in TX that can help in a case where GP is not doing their job (maybe a branch of SEC), please let me know.TIA