In the Reno Tahoe area there are multiple counties and cities all with different regulations and target users. 

That situation caused me to lose trust in the seller.

There's more than one time I've been in the same situation in my younger years.

We have actually had multiple offers on a few of our rentals with one going $200 over list and that was listed $700 over 3 years ago.

Anyone been in a similar situation or is able to provide any insight?

However your situations biggest risk is the lack of appreciation. 

Its a limited doc program  my suggestion is to close the land cash and refinance into multiple loan options and negotiate with at least 5 lenders and talk about terms. you may not even be qualified.

Sight line distances for entrance approval, shared drives for multiple lots.9.  

To all my creative finance aficionados, I have a situation...I have a potential off-market deal in my hometown of Pittsburgh.

As a broker, I have lenders that will extend the rate with no penalty at times, somes that charge per day with increasing per day costs for multiple locks, some that won't let you relock at all....