However, to answer your question:  An FHA loan is for owner occupied only, to the best of my knowledge, although I don't work in residential lending, so someone can jump in and correct me.Secondly, conventional residential loans cannot usually be made to LLCs - guidelines permit lending to people only. 

I am trying to think creatively here on how we can generate some income from this to office some of our carrying costs until we find the right buyer...hence the billboard idea.Here is a little about he location:- Back of property has clear visibility from major state route with INDOT listed traffic counts of 12 to 20k cars / day- Property is located on a slight curve, so cars traveling north will get prime exposure (though this may prevent having usable space for southbound traffic)- No billboards in the immediate area with tons of major retails present (i.e. tractor supply, Holiday Inn, Menards, etc.)So in addition to checking the City / State to see if I could obtain a permit, what other advice / insights do you have?

I know I am limited to what I can do because there is the threat that he could choose to report us to the township, as I am doing this without proper permit as this is a SF residential area.Any suggestions?

That means I’d have to deal with Code Enforcement getting permits and inspections, contractors, yard work, utility costs, etc., etc., etc… and it would take up way too much of my time.

I will draw on the line of credit for new purchases and after a period of a year or so we will create a permit loan on the line of credit debt.This has really been an interesting process.Frank

To make a long story short, the architect is charging me $5000 for the drawings we'll use to get the permits in the city.I nee to know if that's average or I'm been charge too high.The drawings includes plumbing, electrical, windows and structural and that's not include any permits fee or processing.I'd really appreciate any help with this issue!

We also tied the two fields together which meant that in reality we only have one system which saves a extra permit fee for the second house.  

But I had to have plans drawn to get the permit for the project.  

She works with building to navigate the building permits maze and is is also an architect.

I'm looking at several properties, some of which are bare land, others of which have a single house on a larger plot that I'd like to subdivide and build on the new plot.Because development will be contingent on multiple permits and/or subdivisions being approved by the local jurisdiction, how can you make sure you don't buy the land and then end up with land you can't build on?