Sarah - Since you have three lots you could create three different listings at different price points and options and also list the vacant lots for sale separately as well if your MLS will allow you to list both a vacant lot and a to be built listing.

If so is it two separate loans one for the land and one for the house or does the 1 loan encompass the purchase of land and the house build?

We're also doing two separate ground up new construction three unit buildings at 1 & 6 Coppersmith Way in East Boston.

My credit's recovering from around the 580 mark (down from the mid 700's after I separated). 

I don't know the FHA answer but I would advise you to make sure the two properties are on two separate legal parcels and if they are next to each other have a survey done. 

Already run 300+ nationally but as a separate entity. 

This changed my approach to 1) Always assume the taxes will increase after the transfer. 2) I now write in an addendum to purchase all of the personal property separately.

That is completely separate Why  is tenant blaming landlord for an act of God and something out of the landlords control ?

Property is listed as a SFR but could easily be converted back to a duplex with separate entrances. 

Can you separate the top from the bottom?