I don’t have a loan on the property and hold it cash, but, if I sell it would lend the profits as hard money and earn 10%+. 

It was 50K loan for 6 months at 20% interest.

And if it's a high amount, would you be better off just using that as a downpayment and get a standard new investment loan?

Almost every realtor has several investors ready to invest at least $2 million in cash.If you’re planning to use hard money loans, agents won’t show properties without prior proof of funds.I’m curious, is this a general market trend in Ohio or just this particular realtor’s approach?

Having the seller carry a second is not a problem for the first, as long as their business with you is finished and the loan has closed.

For "Foreign Borrowers" your loans are very limited. 

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

For context, I will be assuming his VA loan at 5.1% and he will be doing seller financing for the remaining equity and sale price. 

After funding 2,000+ loans across the country I know most lenders will have issues with these 2 things.

We process, underwrite, close and fund the loan.