It is a federal regulation but some states reach out and screw you.

Make sure there are no Federal Pacific electrical panels. 

Penalties of these Federal charges may include:30 years in prisonUp to $1 million in finesIt's a Federal crime.I'm not currently at foreclosure, but am recently out of state starting grad school, no income, and home needs repairs that I simply do not have the money to make.

https://natlawreview.com/article/texas-federal-court-issues-nationwide-injunction-against-enforcement-corporate

Understanding the IRS disaster relief provisions is crucial for residents seeking financial recovery.Under IRS guidelines, individuals and businesses in areas designated as federally declared disaster zones by FEMA may qualify for special tax relief.

What if the federal government (if they have to step in) say no, we are not going to allow you to rebuild and instead of using the funds to rebuild use the funds to acquire the land and preserve it?

The Corporate Transparency Act (CTA), which requires businesses to report Beneficial Ownership Information (BOI) to combat financial crimes, is now facing uncertainty due to a recent federal court ruling:What Happened?

Are there other more creative ways to start cash flowing in year one Be careful because federal mortgage fraud and going to jail is a real thing.

Beneficial Ownership Information is back on the table. Register your corporation by 1-13-25

Some local lenders familiar with Gainesville’s market (from what I’ve read in Bloomberg) like SunState Federal Credit Union and Ameris Bank have been mentioned favorably latley and might be a bit more flexible if they understand the repositioning story behind your property.