The guideline above will insure the borrower is motivated, experienced.

I have never taken out a loan (not a legal one at least, I did borrow $1,500 from my folks once and paid them back every cent of it.)

I'm not sure what he can do, but I know that the US has about the worst legal system I've ever seen.

Then, on Monday I'm going to the bank to meet with the loan/mortgage guy.So, if things go according to plan (purchase agreement signed, $20k loan approved) by about when will I be the legal owner of the land?

Now for further clarification it's not a license per se but like I stated in that post there are strict guidelines.

Points are based on borrower’s credit score and experience.Closing Costs:Costs incurred to close the transaction, including lender’s legal fee, title insurance, recording costs, etc, will be paid by borrower, however, these costs can be rolled into the loan balance.Rehab Funds:Rehab funds are released in a series of draws as work is completed.

Usually the cheapest way to access equity is via an Equity Line, however most lenders have stricter guidelines for equity lines for investment properties than for primary residences or second homes.If any one would like to discuss specific scenario's concerning refi's or equity lines feel free to contact me via email or phone.

Is that even legal?

Completely legal and meets all the requirements of the military.

Would it be legal for such a development to be on the site?