VA loans don't typically include cash-out for remodels, but I believe there are some niche exceptions such as energy efficient upgrades.

In Florida, the buyer can back out any time during the inspection period for any reason - or no reason - with full return of escrow.  

If the redemption period is past be more cautious.

Basically, unless you're willing to wait for a 6 month seasoning period, it seems like the requirements are that your delayed financing loan amount cannot exceed your original cash purchase price (plus escrows, closing costs, etc...).

Typically, we will have a lease signed with a tenant before we are finished with the job and that allows us the time period before they move in to finish up. 

Found a lot we would like to build an efficiency cabin/garage on to VRBO for a few years until our daughters get through college. 

The apartments are efficiencies and it is located in a flood zone.

For instance, if the farm has "hot assets" (e.g. unrealized receivables, substantially appreciated inventory, etc) your FIL would have to realize ordinary gain from the sale and can't defer that through installment.A Sec 754 election needs to be discussed as well if you're buying out your FIL's interest but your BIL is staying on.A good CPA is going to cost you, but will save you far more than his/her fee by doing things correctly and efficiently."

It is pretty cool that you were able to get that property after such a long period of time from the first time that you found it. 

I read through the regulation a few times and still had a few questions around the deferral period.