We looked at a couple different options as far as % downpayment and I figured I would refinance in the near future to help the payment get down lower.

live-in-flips are a great option too!

(Excluding FEMA insurance claims)We recently sold a home we foreclosed on in Georgia and I am pretty sure they had a specific form for disclosure of insurance claims we had to complete (my associate did all the paperwork but asked me about the form). not sure if it was fema or not.The form if there was one was optional, because Georgia is a Caveat emptor state.

That seems to be extremely unique in today's environment.But if you're looking for more tenant stability, some of the options you listed might be a better fit. and don't see it talked about a ton here (that may be a good thing)

Most owners who do it want to keep the option of having the building vacant when they eventually sell the place since vacant places sell much more easily then tenant-occupied ones if it's a rent controlled building.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

Don't leave this option OFF the table. 

Clearly define terms, including an exit strategy, buyout options, and how proceeds will be split.

To access your home equity without selling, you can explore options like a home equity loan, a line of credit (HELOC), or a cash-out refinance.