I think between the last option and this one, most folks would pay the 1% + 0.25% for the lack of PPP.Commercial Mortgage Backed Security: Net worth must be equal to the loan amount, and liquidity must be 10% of the loan amount, absentee borrower is fine/normal here. 

I  know that there are certain stipulations that come with the grant and I want to use  FHA  loans to keep my down payments low.

The loan officer came back with questions that I need advice with.

There are also intermediate things you can do… like take a loan against the property if you needed some cash somewhere down the line.  

I have no credit debt and $12,000 of student loan debt I'm looking to pay off within the year.

I have very little equity in it and my loan balance is around $400k. 

One time close construction loans have higher interest rates than traditional mortgage loans .

This affords the opportunity for a homeowner to sell the property if it is not under water for market value and pay off the loan before they are foreclosed upon, or more commonly, short sale the property with the bank's approval. 

Roommate situations have positives and negatives for you as a landlord.

Let’s assume the property has $313,000 in NOI Valued at 6.26 M 5% cap loan $4,695,000P+I annual= $413,400> NOI5.216M 6% cap loan $3,912,000P+I annual= 344,460 > NOI4.47M 7% cap loan $3,352,500P+I annual= $294,708 <NOI cash flow +