I'm curious about financing the project - specifically, how would I convert it from what I assume would be a hard-money / private-money / short-term loan from a friend / family member into a long-term permanent financing type deal? 

(Y) "Resigned" means the license status in which a license has been voluntarily and permanently surrendered to or is otherwise in the possession of the division of real estate and professional licensing, may not be renewed or reactivated in accordance with the requirements specified in this chapter or the rules adopted pursuant to it, and is not associated with a real estate broker.

@Ashish AcharyaGive me a shout post 4/15.Right now I generally get on BP in-between clients to de-stress a little.Not a good time to get into a debate and dive into code sections.Perhaps my most recent example was too hasty reviewing the regs right now...The "-3" reg defines structural components by reference to Treas Reg Sec 1.48-1.The term “structural components” includes such parts of a building as walls, partitions, floors, and ceilings, as well as any permanent coverings therefor such as paneling or tiling; windows and doors; all components (whether in, on, or adjacent to the building) of a central air conditioning or heating system, including motors, compressors, pipes and ducts; plumbing and plumbing fixtures, such as sinks and bathtubs; electric wiring and lighting fixtures; chimneys; stairs, escalators, and elevators, including all components thereof; sprinkler systems; fire escapes; and other components relating to the operation or maintenance of a building.We know that a building and building structures are a single unit of property.  

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

At some point after retirement in 8 years we may move there permanently.

Then at the end of the draw period, your loan will convert to permanent financing at a fixed rate of interest. 

After you get to your first permanent duty assignment, most commands will allow you to move out of the dormitories/barracks/ship and move off-base, if you want” https://www.thebalancecareers.com/single-members-on-off-base-3353946I’m going in as a e-2 because of college credits, and will be an e-3 by the time I’m done with tech school.

There is no way you can keep your rent at market and unless you are intent on permanently losing money at the two year mark you are going to be forced to make a huge rent increase. 

In Ontario they take half a months rent for commission I believe (could be wrong about this).In terms of moving the tenants in and out for an out of province property I'd consider installing a lock with a passcode you can change digitally, that way it's as if you have a permanent lock box on at all times & you can ensure security by changing the code from time to time. 

Change out lights with low-e permanent LEDs, and make sure you have good furnaces so they don't use space heaters, and you will be fairly safe.