I have found some information that might be helpful John.There are government backed programs like Fannie Mae Homestyle Renovation Loan and Freddie Mac Home Possible Renovation Loan, in addition to the FHA 203k loan. 

Ugin,When you say permanent foundation it is required by Fannie Mae, FHA, VA and Freddie Mac that a manufactured home/Mobile Home be on a permanent foundation. 

Fannie Mae only requires ONE year of property ownership or management experience to allow you to use rent to qualify.

Quote from @Jay Hurst: Quote from @Jay Hurst: Quote from @Randall Alan: @Gregory SchwartzThen there is this on privatizing Fannie & Freddie:"Trump may renew a housing fight that could rattle mortgage rates":https://www.cnn.com/2024/12/02/economy/fannie-mae-freddie-ma...The gist of the article is that without the government backstopping mortgages, rates could realistically go up!  

and maybe even some encouragement.The Beginning: A Flooded Start and Big AdjustmentsI started the year by purchasing the property with 5% down, thanks to new Fannie Mae guidance on conventional loans around December 2023.

My wife and I were able to close on a duplex in December with the FAnnie Mae 5% conventional loan.

I’ve heard different things like taking a Fannie Mae loan out then converting it to a LLC and the likelihood of triggering a due on sale clause is minimal.

@Ahmed MoustafaThe general Fannie Mae guidelines you mentioned are for non-renovation loans. 

Maybe Fannie Mae is wrong LOL.

Shortly after finding that my note was separated from the mortgage and sold to Fannie Mae I started doing some digging and came across this very info you're mentioning.