The exchange agreement which outlines the functions of the QI for you and your relationship with them.2.

(I attached a satellite pic with the lot outlined) My wife and I are thinking of making it a rental.

BP Nation:Does anyone have good presentation outlines and templates for pitching to investors/lending organizations to get financing?

I have outlined a high-level plan below. 

Are there penalties outlined or stipulations anywhere?

It has many holes as Brian eloquently outlined above. 

Matt - thanks for the outline ...as you mention needing  financing  ...definitely get  yourself  pre approved  for whatever hypothetical scenario you want  to use  ...if you already have done this - great ...if you haven't yet done this - get it done before you begin looking  seriously  …….by doing this you will become more familiar with the  figures  involved and the  process plus you will be able to insure your financing is viable and available should you find a property ..thanks

Then you can develop a long term relationship with that banker and be on your way.Using this method, I was able to find a couple banks that can work with me on terms similar to what you outline.  

I just know when we visited the friends farm and he outlined about $80,000 in income he was getting for land that no one was using and as a real estate investor, that just seemed amazing to me.Getting paid for doing nothing from the government, getting people to buy his grass and he backs up to a landlocked nature preserve, so he gets paid by the government again to drive across his land so they can get to the nature preserve that they are studying for something. 

@YiBing T.What you are proposing is possible based on the interpretation of many tax attorneys, as outlined by @ George, but there is still some layer of risk if there is any perceived benefit between any of those plans.