@Andy JerezApproach a small community bank that does construction to permanent loans.

Can I put on an addition by laying down a foundation, rolling in a mobile home, and permanently installing it with perhaps a carport or deck connecting the two structures effectively "combining" them. is this just crazy?

I am looking into REI in both NY and Florida (Looking to move their permanently by Spring 2018).

This is based on the cost of the project, not the value (when you are finished and convert the loan to permanent finance, it will be based on appraised value).For me, I buy the land with cash.  

You need permanent financing as inexpensively as possible.

They are typically looking for a place to live for a month or two as they get to know the area, before they move to something more permanent, after they know more about the area.   

If it has never been moved(except for set up) and is on an FHA approved permanent foundation this is an important designation moving forward as it will qualify for FHA financing when the time comes to sell. 

I earn a decent amount at my job (I am a corporate lawyer) but since the recession, permanent legal jobs have been hard to come by so I have been doing higher paying contract work--I've been at my last gig for 10 months but you usually change jobs every month. 

Being on an island, there's limited housing and constant demand, especially with the permanent military presence.

No termination clauses.I would want more yield for undergoing what you are going to do but if it;s close by it might fit your portfolio.Try to get the interest only to convert to a permanent loan at today's rates.