I tried to get a HELOC from a Credit Union and they gave me an appraisal based on the Home Value Explorer that was below what I thought I'd get. 

Anthony because of how nice the area is. however, I really would prefer to stay out of downtown Minneapolis because of personal preferences. i'm open to exploring other cities like Bloomington but as of now I really am not sure.

Some states have explored this in their body of law due to the recent foreclosure surge and some not so much.  

So we have a very unique busienss plan.We don't follow the 1%, 2% or 50% ruleWe invest in appreciating market/rent areaInvest in Class A propertiesSelf-Management- Saving management fees and regaining controlLow Vacancies - nothing to dateIn general we follow the south west airlines model.

So we have a very unique busienss plan.

They have a wonderful grasp of the unique time in human history that we all find ourselves.

Have a unique situation where the property owner would like to exchange/swap their vacant lot for one of the future developed units.  

You might want to consider simply putting together an Option Contract, so that you actually have a beneficial interest to market, and then exploring some of the more creative options.In my opinion

Take care in seeking expert advice in the forums and you should always start out consulting a local lawyer, some things are unique to your location that others won't have a clue about.

As a college student you have a very unique opportunity to voice that interest to professors, they likely have connections who would be willing to help you learn.