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

Quote from @Brent Thomas:@Adam Reilly I would assume you are civil engineer based on this last response.

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.

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?

A few additional thoughts about being a new agent ---Being a real estate agent is unique because it's solely commission-based.

The concern is possible lead based paint.

If you get audited, this will be good to have on file.3) That's tricky, the dash 4 grouping election is based on facts and circumstances.

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

I don't beleive this is true based on the IRS site stating you don't have to issue a 1099 if you are "not engaged in a trade or business."  

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.