What they are suggesting is mortgage fraud.

Any other use (i.e. renting out the entire property), the lender could find you guilty of fraud.

as a foreigner you will find it next to impossible to get a loan.. so that's the first thing.second is you must be very careful.. there is a ton of fraud goes on selling US properties to foreigners.. choose wisely mate..

Fully rehabbed the ARV is around $175 up to potentially 195k if rehabbed well enough to comp with newer builds, but in the condition I assume it is in, the CMA comes out closer to $150k with some nearly identical dated comps sold nearby in the last six months right around that price. 

The the other joker in that deck would be that if those duplexes are substantially identical and there is a sale to you at an obvious discount rate the IRS will be looking for a reason to find cost basis shifting.

I hope this isn’t a dumb question, but when comparing rates and terms for HELOCs from different banks, is it possible to provide my income/current expenses/credit score or SSN to run a credit check and estimated home value to different banks and get a good faith estimate of what the rate would be without having to apply first, since, from what I understand, I can’t apply at more than one bank at a time because it would be considered mortgage fraud.

I was using Credit Bureau Associates who have recently moved/consolidated with TenantAlert.Have the option of running, criminal background and identity fraud checks.Have the option of  paying for it myself or applicant to pay.I get the credit score, account types open, closed, payment history, status of accounts, balances, etc. 

I have seen everything from medical bills, loss of a spouse, divorce, loss of jobs to identity theft cause someone to have to file.

Update:A friend of mine is consulting on a nearly identical project currently. 

Failing to do so can be considered insurance fraud .