Should I wait a couple of years on the project or should I apply to purchase the land? 

@Elise Bickel we ran into the same situation and found out that it does not apply just yet.

@Gui Qiu I would speak with people who have a current and clear mastery of estate planning in this specific instance and not random people on the Internet like me..............my understanding is the inheritance tax applies to the recipient; in this case you.

We paid off some credit card debt and decided to move home.  

Student loans, business debt, credit cards, you name it.Would it make sense to spend a bit more on the reno and sell each unit as a condo?

Again, I have 100% equity in the house.I was asked why I don't get a home equity loan and the reasons are 1) My credit probably shows me to be a "ghost" since I have not had any sort of credit in the last 7-8 years and 2) I have worked for myself for the last decade and my income is usually in cash so, it would be impossible to prove any consistent income.I never would have thought that getting a short term loan under my circumstances could be difficult to put together.

Credit score and income level are th eeasyist criteria to set to eliminate them.

I have 40% down payment and amazing credit score and credit history.The issue is that I am self employed and I dont show any income on paper, so the bank won't consider loaning me money due to "low income" This is an amazing opportunity and I have it under contract but I'm about 100k short, how do I get that financing to get to the closing table?

Get college credit in high school, apply and win scholarships, or even go to community college to knock out core credits.

I haven’t  actually run his background or credit yet but according to him everything else will check out well.