What is the SDK exactly, you downloaded?
I have just fought myself all the way thorough to build the latest Edison image and my own sdk. You can find it here:
I have done the whole process till the kernel compilation, and though the NFS has finally failed, the rest I think is quite usable.
I understand your situation, I'll try to help you with this issue.
I believe what's happening is that you downloaded Edison's Cross Compiler Toolchain and if I'm not mistaken you are following the Native Application Guide (http://www.intel.com/content/www/us/en/support/boards-and-kits/000005966.html), right? If so, you should instead use Edison's SDK which can be downloaded from the following link: https://downloadcenter.intel.com/download/25028/Intel-Edison-Board-Software-Package?v=t.
I've noticed that section2.2 of the Native Application Guide is out of date which might produce confusion with this. I've already informed the appropriate team about it, hopefully it'll be corrected soon.
If you use the SDK you will notice that this time the instructions of the Native Application Guide actually make sense.
I hope this information is of help.
The info you gave me was correct. To be honest, the documentation and website in general (looks like it may have been recently updated) is far to unclear. Intel has got to do a better job with summarizing all of the resources and tools and where to find them. I don't understand why there is not a single landing page for the Edison that provides links to: the most recent SDK, User Guide, Datasheet, etc. with simple descriptions of what each provide. Additionally, like almost any other SDK or toolchain, there should be a README that tells you general information, like how to install it.
I hope this feedback can be passed along to the right people so that people don't have to struggle.
I'm glad that the information I provided you helped you.
Also, I will make sure to pass your feedback to the appropriate team, hopefully the issues you mention can be fixed.
In case you have any other doubts, please don't hesitate to come back to the community, we'll try to help you in any way we can.