I couldn't attend, but figured it'd be similar to the last listening session.

How do you even know if things will work out?

If you find the right small town area it can work out well.

Start with a small one on the first couple to work out your system kinks.  

If you're worried about the tenant damaging the unit, you can work out a deal with a landlord/tenant judge where they can pay what they can and leave immediately.

The best part is the free CD is nothing more than a bunch of vague suggestions about how you can make all this money in real estate and vague bragging sessions about how he has been around so long and wants to give you all his knowledge before he croaks (paraphrased) Someday I will be completely immune to the crooks attempts at separating me from my hard earned money.

Quote from @Dawn Roy: My response is not relevant to this transaction as it appears everything is going to work out with your lender. 

As for your lot split I am unsure exactly what you are asking but an early hurdle if you do not own the property outright is to get the lender to agree to the split and work out the details.  

I got the deed recorded today and I'm going try to get the numbers from the state and reach out to the developer tomorrow and see what we can work out.

Where I am in New Jersey, the numbers wouldn't work out at all, but those numbers are good on your sale and rent for the build cost, especially since they should appreciate there in Little Rock steadily.