So I'm new to investing and plan on purchasing a house then converting into a rental after a year or two.

I then invested $10k into repairs to make the place rental ready, which involved keeping a garage that had been converted to a master bedroom.

Is it possible to take some of the loans in the future and convert them into longer term debt with no balloon payments or something with a longer balloon period.

I have a converted  apartment building that is similar, also 5 fireplaces beautiful tile fronts(cap those chimneys or you will be living with squirrels and they can do a ton of damage!) 

The property sits on 40 acres, has an old stick built converted to storage, an uncared for 2002 mobile (but not run down, appears to be made easily habitable with no major damage apparent from pics).

Then to transfer and convert currency, depending on the bank it could be either expensive or really expensive... use some third party exchange company like transferwise.If it is only to receive money in the foreign country, transferwise also offers a way to receive local payment with a virtual local account number.

That said there are a few key point here:This doesn't apply to those with less than 10 SFR, so the 'middle class' LL that wants to get in the game doing the buy a new OO home and convert to NOO rental can still play in this space.

Room is good size and I would like to convert it to a bedroom.

Renting is not a problem and the home could rent for 800 per month as a SFH or could be converted into a duplex and get $500 per unit.

Reading also has some large homes in the Historic District that have been converted to multi-families.