I knew the fire insurance would be CA Fair Plan.  

The substitute of collateral was more of a scenario where you sold for $155K, and instead of paying off the $88K loan in your scenario, those funds stayed at the title company and were used on a cash purchase happening nearby in date. 

Both of these allow you to low down payment loans to buy a primary residence with fixed interest rates.

In many countries foreign investors buying rentals can't get loans or loans at all. 

Over the next 5–10 years, I plan to scale to a portfolio of rental properties and eventually diversify into syndications.I’m particularly interested in the Lynchburg, VA market and other areas with strong rental demand.What I Bring to the Table:I’ve been saving aggressively, and I’m exploring physician loans to help get started with minimal upfront costs.I’ve done a lot of reading (shoutout to BiggerPockets books!)

Do you use traditional financing or do you us DSCR loans?

If you're purchasing a single family home you can use traditional financing like you probably did on your house or you can do a commercial loan.

Yes there are alternatives for both beige and 30 year loans for no US borrowers.

Points for the loan 1-2 points, so now you are in $3,413 roughly. 

Plus by going with you, they won't have the benefit of an agent's errors and omissions insurance, the support of their brokerage, and the experience an agent has in protecting their clients from everything that can go wrong in real estate transactions.