One thing to keep in mind is that, when investing in real estate you can't always use gift money for the downpayment for the mortgage if you're going traditional financing.  

Now I may not understand the nature of the question since it is possible you are purchasing this property via non traditional means.  

From a lending perspective, you would be much better off if she was hired to a traditional W2 job. 

We do a lot of work in flood zones and from what I've heard regarding "stilts"(we call them pilings) is you're looking at 20-30k extra over a traditional slab with a crawl space....Most of our footings are within a couple feet of sea level so we've never needed pilings but if you're indeed that deep you defintiely can't pour a footing on top of muck.....The other concern is flood insurance - the lower your first floor elevation the higher the flood insurance - I'd imagine if your first floor is under 10' the insurance would be astronomical.....your best bet is to talk to an engineer, get a survey, and go from there.

During that time I'll get my RE licence and begin raising funds for fix and flips / buy and holds by building a strong traditional wholesaling and wholesaling lease options business.Any advice, referrals,....words of encouragement?...

Wow Fabio, the choices are endless.  

Could you go traditional mortgage or hard money until you can sell the first place?

I just  switched to an ACH and gave them a choice how to do it when they renewed I gave a "discount" if they opted to go electronic.. 

Don’t rely on just traditional bank routes for real estate financing either, because there are many options to consider.

That choice is up to you, but to me the answer is obvious.