Like you mentioned the remaining credit is applied to the principle if you pay off the loan or refinance (which is likely, since you are probably going to refinance to eliminate the PMI in the next 1-4 years) as opposed to a permanent buydown where you cannot recoup the permanent buydown aka paying points. 

Im focused mostly on the permanent financing part of the equation and dont currently offer hard money/ABL lending products, but I'm more than happy to connect you with everyone.

She got a great job but it wasn't permanent but it was the launching pad for the job that she now has in a different city (4 hours away).

To me the quadplex would be dual purpose, while you are not living there it serves as a reliable stream of income, once you move there, you could live in 1 of the units while you build your permanent home, and you could also use it for when your family comes over for large gatherings.A 2nd option might be to build an RV park, Unless their are zoning restrictions, you should be able to build one fairly inexpensive, with a septic system and either public water or a well, you can keep your costs to a minimum by doing gravel roads, which are easier to remove later if you don't want them. 

Renting isn't meant to be permanant, but the people who get such good deals from their landlord on below market rent have no issues making it permanent. 

Options are limited but I have a source that can help with permanent financing, i.e. 30 yr fixed, interest only 30 year term.

If you are purchasing the property in a distressed condition the issue of seasoning should not be an impediment to a cash out, or bridge to permanent transaction. 

Follow-up question: if I hold the property after having bought it under the LLC's name, wouldn't I be subject to commercial rates instead of consumer rates when I go to refinance the construction loan into a permanent loan?

Hi folks,My wife and I have a construction to permanent mortgage loan on land+home where we intended to build.Unfortunately, we found out that unexpected foundation work due to soft soil would likely make the project use triple our contingency reserve before even breaking ground.We are exploring our options on how to transfer our current financial obligations for this construction loan to some other loan offering (as moving forward with the project is now too financially risky).

Freddie Mac SBL (Top Markets)Loan Purpose: Permanent Financing (Refi & Acquisition)Loan Proceeds: $1,000,000 - $7,500,000Loan Sizing: 80% LTV; 1.20x DCRAmortization: 30 YearsLoan Term: 5 / 7 / 10 Years (Fixed); 10 / 20 Years (Hybrid ARM)Partial Term IO: Available @ 80% LTV; 1.20x DCRFull Term IO: Available @ 65% LTV; 1.35x DCRRate Types: Fixed & Hybrid ARMRate Lock: At Loan ApplicationNon-Recourse: Non-Recourse w/ "Bad Boy" CarveoutsPrepayment: Greater of YM / 1.00%Rate Buydowns: Up to 2.00% Assumable: Yes - Assumable LoanCash Out: Yes - Cash Out AvailableFANNIE MAE SMALL LOANSLoan Purpose: Permanent Financing (Refi & Acquisition)Loan Proceeds: $1,000,000 - $9,000,000Loan Sizing: 80% LTV; 1.25x DCRAmortization: 30 YearsLoan Term: 5 / 7 / 10 / 12 / 15 / 30 YearsPartial Term IO: Available @ 80% LTV; 1.25x DCRFull Term IO: Available @ 65% LTV; 1.35x DCRRate Types: Fixed Rate Lock: At Loan CommitmentNon-Recourse: Non-Recourse w/ "Bad Boy" CarveoutsPrepayment: YM; 3 Mos. @ 1.0%; 3 Mos. @ ParRate Buydowns: Up to 2.00% Assumable: Yes - Assumable LoanCash Out: Yes - Cash Out Available