What do the "Instrument" codes GR, WD, QC, BS (etc. etc.) mean?

I became an investor by doing all the wrong things but I"ve learned as I've gone.  3 of my houses are where my son lives and he is instrumental in bringing them up to rentable and then managing them (and we pay him for that and still make money).  

With that being said, I recommend you read:1) The Richest Man In Babylon2) Think and Grow Rich3) The Automatic Millionaire by David Bach4) Financing Secrets of a Millionaire Investor by William Bronchick5) Flipping Properties by William Bronchick6) Beating the Street by Peter Lynch7) The Intelligent Investor by Benjamin GrahamThese seven books will give you the right mindset about wealth, tell you the "how" of creating wealth, give you the basics of RE investing/flipping, and let you understand that any investment instrument on Wall Street beyond boring, low-cost index funds is a waste of your hard earned dollars.

This entire time I've been trying to get a response from her, I can see how a letter with solutions that she can choose from could help.Thank you all for your feedback, it's been instrumental in coming to our decision.Chris

According to Chapter Four:"At least one borrower must occupy the property and sign the security instrument and the mortgage note in order for the property to be considered owner-occupied."

In theory, you could if you take contol of a fourplex via Sub2, Land Contract, lease option or purchase option (very little money but not no money, need money for upfront option) then you could season your rents or receipt of rents depending on the loan you're doing, and then refinance out of the control instrument or contract into a conventional 30 year fixed.You will need qualifying credit - 620 + ficos and cash reserves to qualify as a non owner occupied property. 

Do either of you have money in a 401k, IRA, etc or any other investment instrument that you can pull out for the down payment?

The bank person listed as trustee on the original deed of trust (assuming this property used a D-T as security instrument) would be the person with the answer... more so than the local banker, who is still important for approving the deal.

A cross collaterized mortgage, (encumbrance of two or more properties under a single instrument set) is not a conventional structure.  

Closing costs also affect this, as you will typically pay more in closing costs on a conventional type mortgage vs a line of credit type of instrument.