Building homes always comes with surprises but the best part is that our clients don't feel any of that.

At $1350 rent:- sustained maintenance/cap ex will far exceed 10%- I will be surprised if you can find someone to manage this one unit at $108/month.  

Both of the members of the LLC we are hoping to do the cash out refinance for are also LLCs if that matters, so it would be distributed from one LLC to another LLC to hopefully the members pockets.Want to make sure that the money remains tax free the whole way and we don't have any surprises. 

I’m surprised that the conventional lenders have given you the ok for this, I’ve never heard that.

It may be a tough pill to swallow if you feel you’re totally right, but you may be surprised at the LEGAL opinion rendered by counsel.  

Loans at 4% Returns at 5% but hard to find that these days...dollar is surprisingly strong.

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!

My team works with a good amount of OOS investors and over the years a pattern has emerged.

Surprised about the construction especially since the earthquakes are frequent and can be bad.  

-Interest Rate: I think they have dropped a bit in the 4.5 - 6.5% but as a foreigner buyer I wouldn't be surprised if a 1 - 1.5% is added to that number on your contract.- Which bank to go to?