One of the very large boilers is pretty old (other pretty new) but the building itself appears in good shape (had a fire 2009 but renovated). 

you can tell from my picture that I do not resemble the main stream  shape or skin color . 

I will pursue those numbers and see where we land.

We have a Land contract that we will likely be taking back in 3-6 months, its a 3/1 1,819 sqft  with attached garage.  

However, there may be some good opportunities in spec builds (especially under $300K) given the extreme inventory shortage of SFRs we currently have along with a good supply of vacant land/undeveloped lots in the surrounding areas.Also, check out the CRIEA club if you haven't already.  

I work for a municipality, working with developers to develop their land, reviewing the engineering side of things.  

The building itself is in great shape, with a new roof, new electrical, new windows, new boiler, and is 100% occupied.Generally most of our real estate purchases are cash so we are not very experienced in finding loans, let alone multifamily or apartment loans.  

I'm not finding a ton of info here on BP about land development so I'm not even sure if this is possible.

If you try to buy a property TO renovate with a VA loan, it is likely in bad shape and the VA is very strict on which properties they will finance.

Jeff there is always exceptions ,let me clarify the majority of the H.U.D homes that are in good shape priced right are snatched up in hours not days the market is that hot here.