If you are looking at FHA because of credit score, then I would work on credit scores to qualify for conventional financing or see if you can get a very strong coborrower with high scores.  

We have no debt and good credit scores, do we have any options for making this work?

We just got an escalation this week from Beattie (been in permitting since…late 2022) and timelines seems to be pushed out a fair bit so we are actually considering moving to Blacktip. 

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify. 

Credit?

The banks/credit unions said I needed 6 to 12 months of ownership to get refied. 

Most non-FHA loans will require at least 15% down but you'll have to have amazing credit.

@Jason Burkart To maximize tax benefits, consider buying the property as a rental and leasing it to your mother at fair market value (FMV).

I've been self-employed for only 6 months, and loans are proving difficult to come by despite my great credit (not to brag, I'm moreso frustrated and seeking help).

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?