It's no guarantee but it's a good place to start.

Its so important to give accurate information and not make promises we can't guarantee. 

They are not 100% consistent, so meeting one code does not guarantee you're compliant with a different one. 

This is by no means a 100% guarantee, and you’ll hear many rejections.

A 7% guaranteed return on new debt is a lot different than a 3.5% guaranteed return on my existing debt.

Many do not and think the return is guaranteed which is a big mistake.Right now is great for PML since property appreciation is likely stalled - in 3-5 years going back to buying real estate might be more lucrative. 

Does anyone have experience with applying, qualifying, or building with the Guaranteed Rural Rental Housing Program?

its not realistic to buy land before the rezone has been done.. what happens if it fails.Unless the rezone is basically guaranteed.. also the issue is cost of money holding land that long .

I guarantee that historically the risk associated with sitting the sidelines has impacted at a higher rate than the risk associated with an RE crash.  

Ultimately the debt will still be recourse meaning you are personally guaranteeing the loan.