Help! Can't find financing for rural farm with foundation issues

[Caity Quinn]

Hello BP community! I am really hoping someone out there will have some creative ideas for me, because I am hitting a brick wall. I want to purchase a 6-bedroom farmhouse with a barn, 3 acres, and the potential to purchase 25 more acres. The property is located just across from Penobscot Bay with a view of the water. The current owners will allow us access to the waterfront via their lot (which is just across the road from the farmhouse), so effectively the property is waterfront. They were originally asking $120k, which is very decent, but the property needs $33k in foundation repair alone. They called me and offered it to me for $90k, which was wonderful. 

My issue is that a) I can't get bank financing before the foundation is fixed, b) I tried farm financing but we need to be currently farming c) I tried hard money but they don't want to lend rural (but maybe there is one who will??) d) I am currently waiting to hear back from the USDA Rural Development office, but I am worried they will require us to live there permanently, and I think it will be more of a back and forth property for us (5 months in the summer time). Ditto with the Farm Service Agency, even though I have explored ways to farm the property with a summer business like growing lavender or large-scale vegetable and fruit farming. 

I have proposed seller financing, they have refused, but I just now proposed seller financing just until I get the foundation fixed and I can get a conventional bank mortgage. I am waiting to hear what they say. I know they want to sell, and they would like me to be the buyer, so fingers crossed. 

Another question: how strict are owner-occupied types of loans? If we live in the property for 3 months, and then we are away for 3 months, but return for 5-6 months, could we get in trouble? Would they come out to the property to check if we are there etc? 

I need 90k+33k for the foundation 5-8k for outside painting, 2-4k for lumber and labor to repair the back of the barn, and ideally a bit more for some interior issues (potential chimney/mold issue). 

Does anyone have any financing ideas or advice?

Thanks guys! I LOVE BP!!!