Also be aware that there are prepayment penalties on these loans so you would need to keep it for 3-5 years unless you decrease the period which will result in a higher rate 

Is there an inspection period, financing contigency, etc. allowed with these?

The lender that I'm choosing to cash out with requires a 6-month seasoning period.

Not a big deal, some states require this for any tenant period. ----- Personally I think you are being way over paranoid.

My market’s appreciation for this century, which includes the Great Recession which was perhaps the worst RE performance period in history, is at over 5%.  

@Shane DuncanIf you are willing to move into the property for a period, you can try to look into primary residence loans such as FHA which have a 3.5% down payment requirement.

The only catch is that you can't put any of the four units back on the rental market for a period of five years.

Or is it just better to find a hard money lender for a short term of about 1 year depending on the season period a traditional bank wants?

While we're uncertain if we'll find another female tenant for the same timeframe, we're considering our options for the best course of action.Should we rent the master bedroom to her in hopes of securing another female tenant for the same period?

Additionally, it can help maximize renovations and improvements.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.