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 don't know what restrictions would apply, I also don't know how the bk laws work in California.. your client would need to contact a bankruptcy attorney for that..this of course should be his last option.

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?

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.

Client Compliance Determined Within Approximately 10 Days Upon Acceptance Client Receives Written Invitation To Attend Trade Agreement Negotiations in FloridaOffer Restricted to Appraisals 90 Days or Less IF ASSETS ARE OWNED BY THE SAME INDIVIDUAL/ENTITY AND TITLED IN EXACTLY THE SAME WAY BUNDLED ASSETS MAY BE PERMITTED

Being a Canadian citizen without American citizenship, would I encounter any problems or restrictions when trying to invest in commercial real estate in the US?

The average loan processor is not very sophisticated so lenders reduce the complexity by screening out complex deals.Seasoning is a business decision and not a legal requirement.Lenders who have little to no seasoning before they will lend on the appraised value generally use other techniques to manage the risks.

Is that even legal?

Completely legal and meets all the requirements of the military.

There will be some things that you'll need to know such as: zoning restrictions and utility availability (water, sewer, electric).