I’d aim for low downpayment land contracts and lease options.After refinancing out of the FHA mortgage, I’d evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.Good luck with whatever you decide to do!

Landlords can easily do it without a mortgage but they are taking a huge risk.

Evaluate the savings over a 7 to 10 year period.

We evaluated 2 properties yesterday. 

My house would easily rent for $3500 or more after speaking to a few agents.

Easily get you in under those numbers!

If you evaluate the long term goals of your property does it align with having these tenants? 

I found, in my search, that you can’t easily use other people’s money to purchase in Mexico.

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

I don't even rent to employees because our work relationship can easily interfere with our landlord-tenant relationship or vis-versa.2.