I plan to call lender on this but don't want to wave any red flags. thoughts?

Quote from @Celine Besson: Hi everyone,We recently moved from Memphis, TN, to Montreal, Quebec.Before leaving, we planned to invest in a small house, renovate it, and rent it out (Ultimate goal would be to BRRRR).

Plan is to purchase a couple homes over the next year.

The plan is to keep operating the property as a PadSplit post-acquisition.

The open floor plan and natural lighting make the space seam bright and airy while the community features like the tennis courts Pool and guard service will make you feel at home.

Speak with the director of development (they're not always titled that way, so just ask for whoever deals with area developments, new construction, rezoning, etc.) to ask if they'd be supportive of your plan.

Ask to see the approved final site plan for the first phase.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

I'm in the market for entity config and tax planning/prep.

You have a solid plan and it's working great!