Anyone can live anywhere they want if they have the money, and sometimes houses are bought and then rented out without much background checking on the people moving in.

Make sure you tell them exactly your plan and make sure there isn't a catch.

We refer folks to bank-type lenders regularly throughout the year when that make more sense for our clients. 

And these would generally be 12% so you blend the 8% bank money and the 12% private money to get your rate.. 

They will be your BOG (boots on the ground) to be able to view the property.I will say that I did buy my current primary residence abroad and it wasn't fairly complicated, I would just do some things differently than I had initially anticipated if that makes sense.

you may have to save up until you have enough money to do so - down payment, closing costs, reserves, etc.House Hacking: What Is It, How to Start, and Strategies for Successit's a more powerful way to get started. 

He would need to find a place to live,which would take money off the table for collateral in his next deal.

Just make sure to vet them carefully.Overall, my advice is to keep things simple for your first deal.

They will save you time and money. 

Making investors  “whole” using company money or worse new investor money4.