Assuming a catastrophic loss that burns through all the insurance resulting in a large outstanding liability, the assets of the entity will be liquidated to satisfy a judgment.  

They have been arrested multiple times for trespassing and outstanding warrants.

It can be income generation to the government, parks being provided to existing community, or highway that will bring in more traffic through the city...etc.

@Erik Carlson@Charles ConroyRegarding taking a 401k loan:You would have to confirm that your 401k plan allows for a 401k participant loan (and that you have not had an outstanding loan in the last 12 months).If yes, you can borrow up to 50% of the balance not to exceed $50,000.The repayment terms are equal monthly/quarterly payments (as you prefer) of principal and interest (e.g. prime + 1%) spread over a 5 year term (or longer if you will use the loan to purchase your primary residence).

Will the highway department require road improvements or highway entrances to approve the subdivision?

I think your idea of having a PM do a control sample is outstanding; some things you can probably negotiate on, others not.

Also my credit score is not great right now due to some late payments and the low percentage of available credit versus outstanding credit.  

My credit is outstanding, however loans for new companies is next to impossible because I don’t have a track record or funds / equity to cover a line of credit for the amount I need.

I grew a little soft working with some real outstanding people here so this caught me off guard.

Also if you decide to convert the property to a long-term rental the improvements may be added to your capital basis & depreciated over time.Track Expenses by Account - Helpful for reconciling bank accounts, credit card accounts & expense reimbursements#2 Liabilities / Outstanding Loan BalancesIf you are using outside funding, you will also want to keep track of your outstanding loan balances that you owe for each property.You can do all of this in an Excel spreadsheet by just creating columns for Category, Vendor, & Accounts.