Many people who are long term renters can't save enough money or have problems with credit, hence they are still renting.

this worked out well in the short term for us.  

Thanks Hi Karolina, I meant to comment on your previous mixed use post, provided 50%+ residential and 85% occupancy should be several reputable lenders that can provide workable terms. 

I'd counter at a price and term that works for you.

Do you intend to rent the property out via short-term or long-term rentals?

I don't like the terms and would try to avoid.We could still do a conventional loan and if I'm not mistaken it'd be this whole "gift money" thing so the shared ownership wouldn't be recognized legally.

One with brutal, silly terms.

Looking for long-term conventional refinance (potentially cash-out) for a SFH.

Get a “Second home” loan and later decide you want to list it as a short term rental.

I would appreciate any advice or suggestions on how this figure might be reduced or if there are any terms that could potentially be negotiated.Thank you for any assistance.