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." 

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

I do intend to consult a CPA but wanted to have some understanding of possible options before I interview a CPAThanks AM 

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.

The gravy for them would be level of finish and extra amenities but they aren't going to pay substantially more. 

You may want to make sure you have some extra money to give them cash for keys if needed.Best of luck!

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

A Heloc is a debt burden and add an extra tradeline to your credit which can cause higher DTI and excessive trade lines can drop scores.

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

Always get title insurance and pay more for extra coverage (it's usually cheap for the extra coverage).10.