This will show you that people have options to go out and pick another house over your place. 

So you could see about going to auctions and winning a "cheaper" bid on a property there, if you decide that's an option.

TY You have a few different options, but a cashout refi on the free and clear property is probably simplest. 

As noted, if your options are Reg D, private offering vs fully registered public offering, even if you are talking Pink Sheet (OTC) stocks, you have public filing costs, annual audit requirements, and likely more on-going expenses that have to be covered by the property(s) owned by the offering.  

I've found options in Costa Rica, but rates are in the 10% range.Does anyone have any experience or guidance on obtaining a mortgage equivalent to purchasing a 2nd home in the US?

Make sure you research multiple options to see what fits best for your real estate goals. good luck!

Hi @Aaron Raffaelli, you've gotten good advice here as well as some good options.

You can get started with rent to own/lease option or another creative strategy like buying subject to. 

I recommend comparing lenders to make sure you get some good terms and financing options for your next investment!

That said, I'm grateful for the alternatives you present--you're keeping the bottom line in mind, so I appreciate your help in exploring options that achieve the bottom line for the investors.