Quote from @Molly Jones: I have been learning a lot about investing in the U.S. but I am an American living in Thailand and actually came across an amazing deal here.But I am short about $50,000 for it.

Check the fannie mae website to confirm property qualifications.

Freddie Mac Home Possible and Fannie Mae HomeReady:These programs are designed for low to moderate-income borrowers and offer down payments as low as 3%.

Unfortunately, that won't matter as  Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSE’s) that set the guidelines for conventional loans, which most lenders follow for other types of loans, too, require that a condo building’s master hurricane insurance policy provide 100% coverage of the replacement value for the building. 

Hi Molly!

He said that he did NOT have it listed yet because Fannie Mae (the owner) was remodeling it before listing. 

Seems like the bank owned ones are federal national mortgage association (Fannie Mae). 

Broad Street to the north, Demorest Road to the west, Sullivant Avenue to the south, and Hague to the east.

Sam,You can do an investment property purchase with an escrow holdback or a renovation loan such as a homestyle loan from Fannie Mae.

Luckily, Fannie Mae introduced the 5% down small MF loan product, so we took advantage of that.