Converting properties to multi-family is considered extensive rehab and those programs are a little more exclusive than the standard bridge loan programs. 

Mfh is an unfair game because you need a partner to help you with the experience question when getting a commercial loan.

My belief is that you will be challenged to realize a 10% savings loan n your first effort and there is some chance it will cost more than if you used a GC.  

Our area has a good selection of hard money lenders, and every now and then, you might find an owner willing to carry the loan, often at attractive rates.

So if I understand, you would get a loan the normal way and then the bank trust is an extra fee that comes along with owning the property in Mexico?

If the interest rates go up to around 7% again do the numbers still work for the remainder of the loan? 

If your loan is $110K then the payment on the 15 year would be $927/month at 6.15%; 30 year option at 6.625% would be $690.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

I toured the property when they were home and they asked me how the living situation was gonna work, which I explained that my loan said that I had to live on the property for a year, and the tenant next door was on a year lease & he was month to month... so he was going to have to leave.

More doors the better if you are using an FHA type of loan.