Do you have actual multi unit properties in Norman?

Every city has its own mix of 'good area' and 'bad area' thing going on to some extent, but the bigger picture needs to be solid firstly.Beyond that, I think you're touching on numerous different things here but my mind would be on getting actual numbers/data. 

This is actually off market, so I'm getting a chance before everyone else knows about it. 

Funny thing on that first deal, actually.

Actually $0 down is the minimum for VA loans.

On top of @Eamonn McElroy ‘s great input, I would like to add that if you need to sell the developed property rather than holding it, you might save some taxes if you sell the lot to the controlled entity before actually developing it. 

Will it actually add equity?

actually expected something about ole ann the scam, but I guess we just sweep it under the rug here too. 

So my questions are: What are some first steps to overcoming the uncertainty and actually making my first deal happen?

They have said that it would be different if I lived on-site.One bank also said that for a line of credit, they would only consider purchase price + actual cost of renovations for  determination of value.