Hopefully, it was based on their ability to successfully execute a transaction, and not just because they were cheaper than everyone else.  

Well, generally it means that the living spaces in the home need to be built about the Base Flood Plain Elevation.

Here are some insights based on your scenario:Refinance Timing: Given that rates have been dropping and you're considering a potential refinance for next year, holding off on refinancing until then makes sense if you're not planning another project soon.

you state that you're based in CA and are about to start buying properties in AL. 

To do well, build a strong money base, keep a good credit score, and look at other loan types besides FHA.

If I did my math correctly, on a 3,600 SF triplex where you buy the land for $150k, you generate a gross profit of about $84k (based on a $140/sf build cost and sale price of $205/sf), before you pay interest on any borrowed funds or closing/commission costs.

Consequently many inexperienced investors make investment decisions based on where they can afford to buy, not necessarily where a good investment thesis may exist. 

Analysis of properties with positive cash-flow based on market analysis of rents.

Lets go over your questions one by one and provide some general thoughts based on your goals1.

People responded by explaining that residential mortgage lenders are looking for US-based customers, who have their residence, income and assets in the States.How do they view foreign debt?