They are mocking these up with interest only loans and factoring back in the tax deduction as if you qualified for the tax benefits of a real estate professional and factoring in the diminished first year property tax (since its not a full year).

House HackAttend as many REI meetups as you can to grow your network of investors for referrals, help through challenges you may incur but don't have experience with, and learn from proven guest speakersNetworking app like blinq to compile all of your contacts for REI in one area with phone and emailbegin conversations with local credit unions exploring what type of loan products they offer

Determine the cost of construction (hiring a contractor in the GNO area is going to start around $165-175/sqft to build) and be sure to include all holding costs, as well as interest in the loan.

 - Fannie/Freddie (f/f) residential conventional loan is the cheapest money available.  

Ideally they did not pay over retail because if they did they could easily lose the money they put into the property if the loan gets called.  

The reason I say this is because you probably have a loan on the properties, or one will have to get a loan to buy out the other.

Since they keep the loans in-house instead of selling them on the secondary market, they can tailor loan terms to meet your unique circumstances as an overseas borrower.If you have strong assets or savings, consider looking into asset-based loans or no-doc loans.

Points and loan details are TBD still as we're just getting the tentative process down on paper as we wade into the details. 

You could always get lucky and the bank may never call in your loan.

I have built up enough savings to purchase a multifamily property with an FHA (3.5% down) loan or Fannie mac (5% down) loan.