30-Year Conventional: 7.01%30-Year VA Loan: 6.40% Drive Safely, Las Vegas!

Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.

As a loan officer, I've seen a few people go through the same scenario of basically breaking even. 

Make sure to provide clear disclosures to the seller about the risks involved, especially regarding the existing mortgage staying in their name.Insurance Considerations – You’ll need to work with an insurance agent who understands sub-to deals, as the lender might require a policy that keeps the seller as the named insured.Due-On-Sale Clause – While banks rarely call loans due, it’s still a possibility.

*Aggressively paid down debt, focusing on loans with the highest interest rates and lowest balances that could be paid off the quickest, converting debt to cash flow.

Credit pulls for the same type of loan within a short window (usually 14-45 days) are treated as one inquiry, so your score should be fine.

My borrower is refinancing the loan to hold the property (BRRRR) and I'm wondering if the new lender will have any concerns with this policy. 

Went on to purchase additional rentals so tenants can pay down the loan and I build equity How did you find this deal and how did you negotiate it?

Principal Paydown- If your loan term is say 20 years. 

Anything that extends my reach is worth a look.