I'm getting ready to pull the trigger.

If the interest you pay on the loan is being paid to you, it seems there is an effective and totally legal way to contribute more than the yearly max after the interest in taken into consideration. 

Other thoughts or considerations?

This is an impossible question to answer in a forum like this without considerable back and forth.

My thought is if the original purchase were structured properly, there would be no need for a second purchase (which might trigger a new 12-month occupancy requirement).Assuming I need a second name on the loan to allow someone else to occupy, I need to do more research on what it would take to remove that other person from the loan later (ASAP after the 12-month occupancy is fulfilled).

Are properties not sold at market value for whatever reason taken into consideration? 

Remember the 3 most important things to take into consideration when buying real estate:  location, location, location!

I came from your position meaning I ruined my credit early on and then rebuilt after I woke up. i would suggest you learn about FICO score over credit score as that is what financial institutions take consideration of.

After spending some considerable time searching through government websites, I haven't yet been able to crack the code. 

Taking into consideration the homes you have bought that are more new, as well as all roof materials you have encountered...