As @Nicholas L. said, property management is always an option too if you want a full hands off experience but can afford it. 

How do you afford it? 

This is highly specific to the loan product and the lender.

Many are private owners just subsidizing their mortgage or they would not be able to afford the house without renting it out much of the season.

. ✨ looking for ideas on to  how to acquire an owner-occupied property  with 5% down by using a mortgage loan product to purchase , improve and  avoid mortgage insurance based on projected value?

Since many residents use these basements as non-conforming bedrooms, it's too bad if these guidelines keep investors from completing this type of renovation and offering safe and affordable homes into the community.Kind regards,Michelle

The product is called a Bridge Loan. 

Construction of homes began in early 2022.In my experience, my commercial sites move along a much faster timeline, but this one was exciting to finally see a completed product. 

You cannot afford to waste time.Just make sure your numbers are accurate otherwise you can create a bad rep among real investors. 

In my opinion, it can be a sign of builder/investor confidence in a given area if they're willing to put up the capital to build new homes in a given area: they believe there will be enough demand to sell their new products.