It's set up to be accessible and appealing to your audience.

@Jeet Sangha You need to sign a Deed Restriction for Owner-Occupancy.

In your scenario you'd have a potential tax event on that $200K difference.Here's a creative way to access most of that money tax free however. 

They claim to charge in the "high 4 figures" - one web source says it's $4800 - to join their group and get access to their network and resources.  

I remember a buddy who once represented a client in the Santa Cruz Mountains.. this client turned an old barn into a shared art studio and invited local artists to rent the space, which ended up boosting inccome in ways they never imagined.The Redwood market can be tricky because of environmental restrictions, zoning quirks, and limited inventory.

Realtors should have access to that information as well.

You usually can do these loans with NO points, you just need to work with a broker who has access to dozens of lenders as there are plenty of lenders that can provide these type of loans with No Points. 

Haverhill is another interesting area with reasonable home prices and a lot of municipal developments in the works (also the commuter rail and easy access to major highways).

They are not for everyone; if you have access to knowledge, contacts, money, and properties, you don't need a mentor.  

I was able to get to the folders and access the appraisal.