Second step would be to engage a couple of civil engineering firms and get some quotes for the project and get their estimates on timeframe for approvals etc.You can also call some site work contractors that do subdivision development and get some ideas on pricing once you determine what you can do with the property.Time frames will vary.

Taxes vary greatly depending upon the area. 

The amount of skin in the game you have as a pose to the lender can cause rates to vary.

It was inspected to the nth degree & signed off.

I graduated this past May with a dual degree in bioengineering and applied math and statistics.

With delayed financing, If you include on your closing statements (which vary state to state - HUD-1/ALTA statement ) the renovation costs - and have them charged at closing......

I do new construction projects and there are investors like me in my neighborhood who do similar deals and our costs even vary widely because of supplier relationships, specific finishes we use, labor costs, etc.  

True, the level of protection is going to vary for case to case and depends on what you feel is right for you. 

So I think it varies, and I'm sure big banks are more difficult.

If you include on your closing statements (which vary state to state - HUD-1/ALTA statement ) the renovation costs - and have them charged at closing......