Yeah that is your best option to get it rented and wait out the seasonal period to refi for better rates... during that time you can make contact with local lenders to find ones that may have a shorter seasonal period potentially... but this seasonal period is only valid when you have a mortgage on it.. so for future.. get private lender or HML to purchase the property and renovate it...then with some lenders won't require the seasonal hold period.

HUD has established construction standards and i am fairly sure that California has established warranties that apply to the sale of these units.

Although they don't hit the 1% rule, having a 2/10 builders warranty should reduce your R&M considerably.

Definitely find out if the builder offers a warranty or your state gives a warranty by law (you'll need to speak with a local attorney if you need advice on this).  

Although the platforms and most issuers would disagree for valid reasons, I personally still believe 506b is the better option for non-accredited investors.

I was hopeful to find a deal before December but your points about building the network and such is very valid.

Will they warranty the job after they move out?

If the Neighbor is aware of the situation and is OK with the situation, I would plan to get some legal documentation to validate the situation.

Do you provide a written warranty, for all labor?

Buy a new one and get the longest extended warranty available.