They'll see where this money came from and if it came from your friend it better be a gift you don't plan on repaying lol. 

thanks Greg. but the problem comes since we dont have repayment gurantee for the common area development loan ? 

I’m currently looking at two parcels of land in Miami Beach that are very unique.

My numbers are as follows PP: $108,700Downpayment: 20%Interest: 4% on a 30year fixed mortgage Renovations: $36K + $1500 for appliances ARV: $150K (very conservative, a house on the street sold for $165K 2 weeks ago)Estimated rent: $1500 - $1600I am not losing money but my net cashflow will go towards repayment of my credit line used for renovations, so not expecting to make any profits until about year 5

Since if the home is owned free-and-clear (which you mentioned above), and the estate is not settled, you could have creditors popping up out of the woodwork after closing (like un-paid credit cards, gov't entities wanting repayment if they were in certain types of elder care, etc.), that want a slice of that homes equity.

Per the Care act- an individual can now take a withdrawal of up to $100,000 from eligible retirement plans, including 401(k) plans and IRAs in which you don't have to repay the funds. 

It's a cop-out, but every market has their own unique characteristics.

I’m looking for land to build multiple tiny homes/unique spaces.

SFLA is unique, I would need to understand better your real estate goals. 

As the description says, I have access to and offmarket deal I stumbled across in west virginia, it's a older couple that is looking to sell a unique property in the mountains of eastern WV.