Is it 83% physically occupied, or economically occupied?

@Mitchell PetroskyHere is a structured approach to house hacking, including getting pre-approved for a loan, identifying an ideal investment property, building a trusted team, researching and making offers, managing the property effectively, and overcoming common challenges.

I’ve also been thinking a lot about my commission structure, especially for buyer-side transactions.

The county is the second fastest-growing in the U.S. and the fastest in North Carolina.The zoning for the project is already approved, and with our captive audience of potential tenants, I’m confident that all units will be leased upon completion.I’m seeking advice on how to best structure this debt with a private investor or investors in the short term until the property is fully rented and long-term financing is secured.

I prefer good deals in established markets that already have some form of permit structure.

I'm sure there are ways to structure a deal like that where they only get paid when they're out of the home (that seems to me to be the key) It's good that you had started the legal process and didn't lose time there at least.

@Nick Miller $244,000 is just for the structure 

Then pay off any debt when you refinance into whatever permeant financing structure you'd like.

The con is obviously the cost because in addition to waiting a long time for permit, it requires serious structural changes + roofing, etc. 

My target purchase price is no more than $410K, aiming for an ARV in the $530K to $570K range.I'm comfortable with small to medium-sized renovations that don't require major structural changes or additional square footage.