Buy a property with a 5% downpayment with as much permanent rate buydown as allowed.

One thing to look into is a construction/permanent loan where the bank would get as is and post construction assessments.

You mean permanently :-) ?

The person has an apparent permanent residence elsewhere.

You can refinance with permanent financing later, or pay it off or whatever…you have flexibility.  

That $17k is going straight to a 3 point permanent rate buy down putting us in the mid 5s.

When it comes to your permanent residence its worth whatever you want to pay for it.

One other item of note is that, uless a community bank is structuring a special deal, most lenders will need to use 2 different loans to accomplish what you are seeking...one for the construction and then refinance it into a permanent loan.

Typically you get a construction to permanent loan so you are not paying a double closing -  so when construction is done it rolls into abnormal mortgage.When you do the BRRR you are in a situation where hopefully you have more than 20% equity in the property so you can refinance to get your money you put down to get the property and renovation you get it all back.   

Properly done it is a permanent solution and large basement contractors will give you a 25y warranty.Looks like the wall has sheared off; if it is less then 3/4 out of plum you can probably just brace it with steel beams, they go on every other joist and we pay about $350 a piece here in Milwaukee, so about $100 per linear foot wall.