To do a cash out refinance now with conventional financing, you have to wait until the loan being paid off is 12 months old! 

Finance your first duplex or triplex through FHA Loan, Conventional Loan, Owner-Occupied Financing, and Portland-specific programs.

BUT I still understand the point that most people made, these are not concrete/stick built structures with conventional building methods, and it is owner/operator, and it's a volatile industry, and its 50min from the Gatlinburg hotspot, and the main house is a double wide, etc.I guess my dream would be that an owner that wants to live and work in one place can buy this property, live in the main house and self manage the property.

Sure if you dont have your own 3-5% down payment then yes use DPA if you really want to buy.After going over the pros and cons typically our FTHB'ers or first time home buyers end up getting a gift or bring in their own 1-2% down + 1-3% gift and end up with 3-5% down payment and borrow at regular FHA/conventional rates (avoid the DPA program rates).This is actual experience.

This property can NOT be financed by FHA or a traditional conventional 30-year fixed-rate loan.

Also the Adelson family of Las Vegas Sands fame have purchased a couple of big parcels with hopes to build a giant casino/convention resort perhaps anchored by the arena for the Mavericks for which they also just purchased majority ownership from Mark Cuban. 

Since it was going to be my primary home, I used 5% down, conventional financing.How did you add value to the deal?

9) adding multiple ADUs or adding an ADU to a quad looses F/F conventional financing.

If so, was your new loan conventional? 

Conventional would work too, but you would have to wait at least a year on seasoning, DSCR is only 6 months.