FHA loans will have permanent mortgage insurance unless you put down 10%, at which case the mortgage insurance can be cancelled after 11 years.

I can't compel competence that does not exist.

I would suggest you talk to a mortgage broker or a bank though - if those homes are zoned commercial you will probably have a hard time getting an FHA or low down Conventional mortgage.

I just bought a property where my lender gave a mortgage on the purchase with 20% down and a second mortgage on some stuff.

We love our home which has a $2,400/month mortgage and we rent the furnished MIL downstairs for $1,600/month, so I plan to do the equity line of credit and continue living in this home.

When analyzing a new build/“build to rent” property as a rental, what percentages/amounts are others using for:-Maintenance/Repairs-Vacancy-CapexI’d assume it’s less than than existing homes, but by half or is it safer to use the standard percentages?

@Scott McGadden, It really doesn't provide an advantage to pay the mortgages off before selling. 

Do you take out a second mortgage on an Airbnb that you never wish to sell that’s almost paid off  or do you take out 100 grand against your primary residence.  

The existing homes are too small and would require a large expansion, at which point it would just be better to build new. 

If existing houses are cheap relative to land and constructions costs, and supply is high, it may not be worth developing even if the agency says "do whatever you want".