I should have that much pretty soon, and a note seems like a good short-term idea right now.

I appreciate your help.Anyone else have ideas or suggestions, I’m all ears.

And the 6 month seasoning idea is the myth.

You want to have an idea about the home's legal use in order to figure if it's a deal. 

However, paying attention to your surrounding communities and the proposals that are being thrown back and forth can always lead to some ideas; as well as, give you better understanding if plans look to be moving forward.

good outline ...possible  risks/ downsides to the idea of the cash out refinance : 1) rate/ terms  ?..

They both insist that there are creative ways to structure this deal so that me and my mother can LEGALLY , and secured by CONRACT, be able to collect the net proceeds, and split it 50/50 as her and I agreed from the start.One of the proposed arrangements I researched and sought legal consul for, and am fairly certain would in fact still be an act of fraud.A broker brought in an investor who proposed the idea of purchasing the Mortgage Note, and giving us the difference, secured of course in advance by a contract where we would agree to forfeit the Security(house) once the note was purchased. 

Any ideas, what should we do?

It's my assumption his idea is to use these spaces for new industries..like self-driving cars.This is his "Next Uber."

I’m currently building a team to work with me on house flips and rentals, and I wouldn’t want this land I want for mostly personal use to mess with those goals.Some initial ideas on adding value to the property: -build a pond w/dock, add a food plot, maybe a small cabin to attract hunters/outdoorsmen-fence some or all of the area to make a small profit (enough to cover property taxes?)