I've done a search, but can't find a thread exactly fitting my situation.

We closed a construction to permanent loan, purpose to construct 7 single family homes. Initial collateral is land, but I recognize the purpose is Purchase as SFR are being constructed. My issue is with the number of units to report. As each home is completed, it will be put up for sale, and the next home started. The sale of 6 of the 7 residences would pay off the loan, but any unpaid loan balance will convert to permanent financing at the end of 12 months. There is no current completed residential building on the land, although one building has been started.

Do I report 7 units as the intent of the loan is to construct 7 SFR?

This sounds exempt IMO. Dwellings being constructed exclusively for sale.