A unique situation - what would you do?

[Timothy Colman]

Hello all,

I have a unique situation that I am seeking advice for.  I will keep it short and to the point.

A close friend of mine desires to sell his town home to me for his current mortgage balance (90k).  The home was built in 08, is 3/2 about 2000 sf, and is in great condition.  An identical property a few houses down sold for 118k in 2015.  So, we are looking at roughly 25k in equity going in.

I am currently stationed in Japan and will be for another year and some change.  Therefore, the property will not be owner-occupied and eliminates government backed loans.  

It appears my only option is an investment loan with 20% down, which would be difficult for me to scrape together and then rent the property. A HML seems to be out of the question in that I will not be there within a year to refinance, etc.

What would you do?