Last thing you want is to be 2-3yrs into this property and you cant get permanent financing.  

(The lights have to be properly wired when permanently installed; using the plug and extension cord is just for testing.)If you buy can lights for an existing house, make sure you get ones rated "insulation contact" or "IC". 

I know several BPers use some form of permanent life insurance to help their investing. 

cool i'm in a similar boat albeit here on the west coast. hopefully its not under ur own roof u come home to as thats when its at its worsts - 24/7 and obviously not worth it once they default AND/OR breach. tenants too often dont seem to realize not paying and/or not keeping any unlawful (ie, prohibited) activity at bay IS as serious as if the landlord were to suddenly, permanently shut off the water/electric/gas etc or lift the ceiling off their rental.

I wouldn't worry too much about your cash flow while you have the hard money, you need to make sure that this is going to cash flow when you have permanent financing.

Cover it up, the wall is stabilized, in most cases it is considered a permanent fix, most contractors use I-beams with a 3 1/2" web so a 2X4 can sit next to it, I have installed beams, and have much experience with these, as long as there doesnt appear to have additional movement, (sometimes stabilized walls will move the house around in severe situations)then I see no issue with putting rock over it, just use Basement board, dont have the drywall contact the concrete floor, leave a gap, and cover it with trim, the rock will wick up any moisture.

It just came across as very shoddy - rather than having stickers or nice little plaques to label the apartment numbers on the doors, they were drawn on with permanent marker...   

Can you tell me about your permanent financing afterwards? 

Than in 15 years to be able to have us both "permanently" retire living on our schedule and desires, no ones else's.

They rent the home out until they're ready to retire and come down permanently or for the winters.