It was already perfectly set up for it with almost all water hook-ups in place already (wet bars, previous basement kitchens, etc.) and I mainly just had to remodel and put a few exterior doors in place to separate areas.

Yes, the timeframe between getting the new property and selling the old property is high interest and 3 different payments (old property mortgage, HELOC payment, new property mortgage).

I am currently a senior in high school nearing graduation and have a growing passion for learning this industry.

Virtually every mortgage broker* will use the FM Selling Guide for determining eligibility, or you google "fannie mae underwriting guidelines" for high level details.

The land is mostly forested with a year-round stream running through it - it's beautiful and private and was largely unaffected by the recent floods as it sits high up and consists of large hills.

I would highly encourage you to think about your family first. 

It was already perfectly set up for it with almost all water hook-ups in place already (wet bars, previous basement kitchens, etc.) and I mainly just had to remodel and put a few exterior doors in place to separate areas.

I own some small multifamilies in Concord and High Point, NC.

(I also would like a loan that doesn’t require a high down payment). 

I wanted to share a situation regarding a persistent water intrusion problem affecting only two units within our newly constructed condo building consisting of 12 units.