Trying to buy as an owner occupant, leaving your family behind to live under a separate roof, strains the limits of credulity.

Is there any way I can limit the risk?

FHA has a limit up to 6% of seller concessions based on the sales price or the appraisal price, whichever is lower.Seller concessions have to be approved by the owner because the property has to appraise at the higher value.An example: $100,000 with 1% seller concessions.

Traditional HARP loans were for GSE loans originated prior to May, 2009 and Fannie/Freddie loans were subject to conforming limits so, it wasn't a HARP loan if there was a refi in 2017 and for that amount although, if the loan balance was ten times lower?

We do it in stock market investing all of the time (dividend stocks vs. growth stocks).But if this is a “whew, this is using all of my investment capital for a 25% down payment, I have barely any reserves left over, and it’s going to limit me” you could be in trouble.And, as pointed out, the impact of $500 per month is far different of your W2 is $50K per year than if it’s $500K per year.

Tenant’s use of such furnishings shall be “AS-IS”, and Landlord has not made, does not make and hereby disclaims any representations or warranties (including, without limitation, any warranty of merchantability or fitness for a particular purpose) as to the physical condition of the furnishings or the suitability or usefulness of the furnishings for Tenant’s intended use.

Is there a statue of limitations on this type of event?

Just my two cents... especially since you can just re-use your VA loan when you move (granted you haven't spent your limit on it).

There is also a height setbacks and sometimes a FAR (floor area ratio) which limits how much you can built.

But, once you get the hang of things, the sky's the limit from there.