It is hard to guess without seeing the issue, but by a wide margin the best stain blocker is shellac based Zinsser BIN.   

im based out of Fort Lauderdale but I help a few clients in the West Palm Beach area.

South Philadelphia's base zoning districts are not very accommodating either.

If it is im not even sure a city will allow you to get a building permit on someone elses land.

Usually take up a large amount of land so imposes on more homes for comparable sales within the normal mileage/boundaries.

The first people that lose their money in a downturn are those that are lending at insanely high LTVs without adequate underwriting experience including determining if the borrower's qualifications based on credit/character, capacity, and collateral.  

Hi,I am analyzing a deal where in i want to buy a land and build some apartments. what would the Lenders look for in this scenario.

You won’t end up in tax court but if you do, you would win based on everything you cited about material participation as long as you have a time and activity log that shows your tasks and provide a guest list that shows the number of nights your guests stay (easily found on the various platforms). 

We have a small fund based out of florida.

I expect if the stock market truly crashed long term the government would bail out 401Ks before STR investors based on the government's previous actions.