I'm looking to purchase a rental property in Avon NC that I will eventually turn into a permanent residence.

This is what we are looking at, but the programs I am finding that roll into a permanent loan seem to have short (6 months) time frames and that is very tight to get through subdivision approval.

(actually trying to make it our permanent home...hard to drag a Union guy away...) 

One unit (that they occupy ) is permanently rented -no need to pay a property manager .Everyone is happy .

Seller understands that buyer may deed the house back to sell at some later point and based on mutual understanding amongst buyer and seller.Seller understands that this could be a permanent solution to the property problem and disposition or this could end up being a short term solution based on worst-case scenario outcome, i.e. something catastrophic occurs that keeps the buyer from making payments.

@Mike RyanI read a great article about that once on containerauction.comThe article says it is possible as long as you are "on the grid" so it is considered a more permanent structure.http://containerauction.com/read-news/financing-a-container-home(I have no connection to that site, author, advertisers, etc... just a passing interest of mine and a pretty interesting site)

I don't see how you can combine any of the three very well unless you are AirBnBing unti you find a permanent tenant (if you can get permission from the Marina after waiting in line). 

Recently, some FHA loans have been adjusted to have PERMANENT PMI no matter the loan-to-value you end up at.If you start with less than 10%LTV (i believe) it is NEVER coming off!

Plan ahead to avoid costly late fees.Eviction will be filed on you immediately.When you are evicted, it goes on your permanent record, and it will be extremely difficult to find another home to rent.When you are evicted, you are billed for our attorney's costs.When you are evicted, you create a substantial monetary judgment against you, which if remains unpaid is sent to a collection agency and affects your credit and credibility.PoliciesYour lease outlines our policies in detail, so please be sure to become familiar with them to avoid a phone call or worse, termination of your tenancy.

Or late fees get added to rent so that if you miss one month the rate permanently goes up by the first late fee, and then the next, etc.