Given how much big tech benefits from them, they aren't going away.The biggest issues are that FOB visa holders often aren't terribly familiar with American building materials, customs, and appliances and so often misuse them. 

To introduce more about myself, I am an international current in working visa.

in my mind this works for the cash buyer but the leveraged buyer thinking they are going to pull all this equity so quickly well that may happen if they get stunning appreciation. but you know appreciation is gambling and a fools errand according to most BP buy and holders  :)  

The life estate holder/girlfriend has no ownership interests…..she only has the right to live there. 

Question- if I become added to the deed of a property, and then the property is refinanced to make me the primary owner and to remove the previous deed holders, would I still need to put down the 20-25% down payment? 

Rul. 201416006).In practice, it is important for the QEAA to include all of the details between the exchanging parties and the exchange accommodation party holder.

I have a SSN but my current work visa is expiring & I’m having trouble getting financing because I will be a foreign national shortly.

That alone could  potentially add risk.Also, the property seller (or CFD holder/owner) still retains legal title to the property as far as I know.

And if so, who should be the holder of the LLC?  

It lets you spread out the risk with other investors.Also, If you’re an equity holder, this structure allows you to compound your money for years without paying taxes until the property is sold.