Those willing to go beyond that could be good partners for real estate investors.Traditional banks/Local Banks and non-bank lenders - If they are a portfolio lender, meaning they actually hold on to the loan and don't just collect your payment, then they have the ability to be flexible.

Are we going to go bankrupt?

But if you are wanting to go more with agent outreach then no. honestly I feel like all the programs basically teach the same thing.

That's because the city won't calculate the actual amount till a structure is built, aka it's not just a plot of land anymore.This will obvious cause your property tax bill to go up and also your mortgage escrow account as well (sometimes these things can make your mortgage shoot up a few hundred a month). 

There’s no reason to go through a disaster (I'm mid recovery myself) and not get the financial upside by becoming the developer and selling a finished product versus raw land.If you have to completely rebuild, it’s a two year process at minimum.

$500k would be enough to go out and buy something else leveraged that would potentially get you a better return.

Do you have any suggestions on how to go about this?

Essentially though you need to go off-market.

While I haven't remodeled the main house, it's situated in a highly desirable neighborhood.

-This depends, travel isn't usually a write off to go look at property on its own as a smaller investorDo I need a business license ?