What is the typical due diligence period for land when buying land that is intended for residential development and zoning approvals are needed.Thanks!

You can find off market deals if you can move fast and don't need to have an inspection period. 

@Michael Slayton 15-20 years is the standard amortization period for an investment property.

Once 6 months has passed (or whatever the "seasoning period" is for mortgage lenders in your area) and the property is finished being rehabbed, you could secure financing from a traditional lender.

Not sure about TN, but in Texas we can negotiate an option period that allows to back out without losing earnest money.

Assuming they didn't do an AirBnB in a neighborhood they lived in it may mean traveling a couple hours to file, then for the trial.4) You have to show "actual damages" You can't assume X dollars are lost or Y amount of people would have rented.

He realised he could goof off for periods with no one watching him and it became progressively worse.

Keep the policy active, and they should repair any termite damage found during the period of their active policy for no additional charge.

As @Erik Whiting mentioned, transferring ownership typically results in you paying off the mortgage immediately.And as noted by @Eric Johnson, most conforming loans allow a rehab window of 3 months, but once that rehab period is over you are required to occupy the premises for at least 12 months. 

I've done this a few times, and in retrospect, I probably should have just waited for the seasoning period and just done a traditional cash out You can pull more equity that way and the process is more simple.