Kyle,You may also want to consider that financing may be more restrictive in a smaller market as some lenders will not touch deals in small towns. 

Underneath every property deed there is also an associated law document called "deed restrictions."

Jimmy you may be thinking of the deed restrictions that some Fannie/Freddie/HUD houses can have attached.

At the end of the day if I find it restricting in any way I could deregister right??

There may be some restrictions on timing for Fannie Mae loans depending on when you bought the house. 

I couldn't PM you on the forum due to site restrictions.

Also, you may want to look to see if the property is labeled "historical" which may place restrictions on the fix-up. 

#3 - Should I speak to a city planner to make sure I know what the restrictions are before I purchase the land?  

Restrictions on number of renters from the insurance company?

If your buyer doesn't qualify for a mortgage, they won't buy and you'll be stuck with an (fill in here the number of months) option agreement that will restrict you from selling the house to someone else.What are they doing to get  qualified?