Sounds like you're taking advantage of your favorable VA loan options smartly too.Good work - can't wait to hear about your next deal!

@Shelby Ek Do you need to activate the utilities in order to qualify for the loan you are getting?

Philadelphia has implemented various forms legislation over the years between abatements, land banks and density bonuses geared towards promoting development in areas that suffered from disinvestment and housing affordability challenges with some legislation having been more effective than others. 

What financing structure do they use--max LTVs and loan maturities.One thing that is especially misleading are your questions 2 & 3. 

Your bank today on the loan might have sold the loan to someone else, kept the loan and the bank was bought out by other bank, not loan as much on commercial real estate anymore, etc.

Seller Financing Terms - 10% Down, 5.5% Interest Only Loan w/ a 5 Year Ballon Payment.How did you add value to the deal?

I'm not familiar with loan applications for non-US citizens, but Greenville is still a great place to invest when you find off-market deals.

First, I would never try and provide tax advice to a seller, it will get you sued, especially to a 100 year old person.Regarding seller finance, since the amount is spread out over long term, they should check with their CPA on how they are or are not taxed on the gains as well as interest on the loan.

@Brandon Weis, the reason and the only reason why they cannot use the rental income on the other units for a conventional loan is because you probably live rent free and don't have a housing expense.

I would start by talking to a lender who deals with construction loans.