There are Cash, Wraps, Seller Financing, Carrybacks, Contract for Deed, Lease Options and of course, FHA, VA, Conventional loans, HELOCS and commercial among other approaches.

Try to narrow down your options to the top 3-4.

Although I have knowledge and experience in my local market, I am most interested in some out-of-state options as I like those opportunities better than what I have locally but know little about where to begin evaluating those markets and the pros and cons of the different states.

They have various rates to choose from but I am still looking for a bank with better options.

Your budget of $600k would afford you a number of other options in the Myrtle Beach and North Myrtle Beach markets. 

I recently came across this "FHA construction to permanent Loan" option which seems almost too good to be true, so I wanted to get some input on how this works and where I might be able to find a lender.

It's a last chance option to bail out if their residence is a pit of despair.- Require renters insurance and ensure you are an "additional insured." 

I think owner occupied primary home financing can be some of the most favorable terms out there, especially with the low down payment option.

Options? 

Yes - Multifamily DSCR Loans can be a great option for this - check out this recent article posted last year on everything you need to know about Multifamily DSCR Loans (generally for properties with between 5 and 10 units) including comparison vs. traditional loan options!