Trying to get some opinions on what to do in this situation, the applicant that has nothing on their record is the primary earner in the relationship. 

I have experience with commercial construction loans and cash-out refinancing after construction completion, but no experience with refinancing raw land yet.

Be sure to consult with a qualified tax professional to guide you through this and to help you understand the tax consequences in your particular situation. 3) You don't go to a broker to setup a self-directed IRA.

With the STR strategy you potentially go with the 10% down second home occupancy loan that comes with a lower interest rate

In terms of your financing question, the majority of loans we do are in that $1m to $5m range, so that's not an issue at all (fake numbers wasting everyone's time would of course be an issue, but let's stipulate that it's solved).

We plan to take a loan against this house (home equity loan or refinance) for 75% of its value, hopefully.

Is there a possibility to get another loan for rehab, fix everything up, and then try to sell and pay back the loan? 

A good credit score will help significantly in the future pursuit of real estate as you try to get the best loans.

We decided to halt all new loans with the borrower until current projects were completed and be repaid.In April, we sent counsel to the first hearing pertaining to code violations and began to learn of information that was contrary to the third-party inspection reports.

I heard of a situation (I forget the institution name) that also had the same set up as Baselane.