The long version is that since the early 2000s there was a boom in Panama City which followed a frenzy of buying land for no reason other than to buy land, buyers from across the globe where buying tons of land for no business purpose but a land investment.And it was a succesful business model for the "land flipper" until prices soared, then a mix of events bursted the bubble.

Generally if you are looking at a rate-term refinance (i.e. less than $2000 cash-out or just refinancing into a long-term lower-rate loan but same loan amount) then you should be fine - if looking to cash-out on the refi - generally will need to wait six months of seasoning however there are a few lenders that will do cash-outs at the 3 month seasoning mark

If it’s feasible, how long might the process take, and what costs could I expect for the necessary permits?

As long as the borrower is current with taxes and insurance and continues to live in the home as their primary residence the lender cannot call the loan due.

We were getting ready to close with an end buyer, but now we can't sell because of a fake mortgage that we are forced to legally remove with due process at our expense.

She has had a year long lease then another year long lease renewal addendum with the old landlord. 

Hopefully you did not pay too much for the dirt. 1 acre is optimal these days because of desired double to triple drive thru for QSR.It can become a problem because if they make the building smaller you get less rent but they do more sales.Example a QSR used to be 3,000 to 4,000 sq ft but now instead wants double drive thru's as not many go inside for fast food like pre-covid.If you get 1,000 a foot less at 30 a foot you just lost 30k NOI and now at 5 cap example paying all cash NNN once developed you have lost 600k value.It can fine as long as you do not overpay for the land.

Only problem is that would take a long time.Hopefully that makes more sense.Quote from @Scott Mac: If you have to ask that question, nobody knows your situation better than yourself, and you could not answer yes your income is fine-  most likely it is not.

We have a VA calling buyers, and we are adding a minimum of 10 buyers per week.

I did tell the current tenants that if the wife and child move in, it will be an additional $100 per adult and $50 per child to account for the wear and tear on the property.