Do I work to build my credit score?

@Jahbari McLennan check and see if you were credited for partial years taxes from seller.

Conventional loans do not typically require residence.You just need to make sure there is NO pre-payment penalty for paying off the loan early.Also you will need all the repair money and carrying costs available in cash/credit. 

I do not want to take a loan on it due to I will be paying more interest vs equity line of credit.

If your not willing to rip out wooden floors then you may try a strong cleaner with special enzymes for breaking down the smell.

I think if you have a previous relationship with them there is not any special regulations about it.

As far as compassion goes...what is the legal precedent for a special compassion tax to be levied on landlords?

For those of you who frequently use these loans, how do you mitigate the risk of needing to refinance in 5-7 years, but not having any idea what interest rates or credit availability will be like at that time? 

By that time, cash is the king and credit will be tight. 

Seminars are very, very valuable...Just ask the person collecting your debit/credit card number to sign you up for the program.