There was also Maier Racing (unless it's really extended family that I've never met, no relation).

If we are extending a closing date and the Borrower has failed to turn in proper paperwork, I might just walk or I might condition my extension with more money and a Conditional Commitment from the Lender.  

So my questions are:(1) Do credit unions/banks/conventional lenders typically offer a 5 year or shorter duration loan for real estate investment properties -- or are there ones willing to do longer term?

The time-frame of one year will probably be extended six extra months and it will probably be more expense than you expect.  

Furthermore, the false etymology presented in that interview that Bon Homme Sept-Heures is an anglicism from "bone setter" has been quite soundly discredited:  there is evidence the character's lineage extends from bonhomme la nuit et couche huit-heures, which existed in France and came to North America with the first colonists (which predate the English presence on the continent).

There is no issue with a lease less than 3 years in duration and a straight option to buy so long as nothing from rents is applied toward the purchase price or no part of the option price is financed.

I am planning on learning the basics of multi-family, establishing relationships, and getting my personal credit score as close to 800 as possible over the next year, year two (and probably extended into 3 haha) I want to raise at least 100k of my own funds to put in on any deal, and year 3 I want to find a property, and other investors who are interested in purchasing as well(which should be easier if i work hard on relationships in year 1 and 2) I have not decided what size property yet, or the area to purchase I feel the quality of the relationships, and education I build over the next year will decide that for me.

The most important thing you need to do is make sure you either have paid off the hard money loan before the balloon, or sign a written legal document that's notarized extending the term of the loan until you can pay it off. 

If so, you failed in taking reasonable diligence in extending credit, it can well be viewed as predatory lending.

I'm not sure how far down the kinship tree that extends, but that means you could put 20 people in a 2-bedroom house.