Confirm what the no point option would look like in terms of rate/payment as you would want to refinance out of this program eventually and into a conforming product. 2.

They used that period of unemployment to skip paying student loans and then try to get some kind of program/hardship deferral or something aka "gaming the system".

Would like to do more ponds on our Country Subdivision projects here in Iowa, but the Corp of Engineers governs these, and this same pond would have cost $80,000 to $120,000 for the "Right to build"; not to actually build here. 

Are there specific military programs or contacts I should look into for housing opportunities?

Great program.

This is an option to consider and many larger banks/credit unions and nationwide mortgage lenders have released new loan programs allowing 2nds, HELOANS and HELOCS.

Plus there is my new program, "improved super calculating  amazing mortgage system" or iSCAMS (tm) because everyone knows that putting an "i" in front makes it 37.8% better, I am charging $100 for that program.    

One other market-wide factor I’d throw in is local government policies.

Our local towns and rental assistance programs really appreciate those that try to work with their tenants which has helped me several times through easier permitting processes.

And you'll have the best rate/points options with a primary residence.Option #2 is great, especially if you're willing to move into one of the units (because the down payment minimum is just 5% or 3.5% depending on program), but as you mentioned it's really tough here to find small multifamily here.