Thank you I appreciate the kind words

I am no expert but based on what I can see prices are rising, so I will assume that we are in some kind of hot market.

Refinancing the existing mortgage in California instead of paying it off sounds like a way to kind of land somewhere in the middle.  

Single family 2BHK tenament purchase price would 50,00,000 INR however its monthly rental not more than 5000 - 8000 INR.Please share how to start in such kind of market ?

We are looking for our first home (not investment property) but the market in DC is kind of rough right now.

I don't have some kind of program to offer, but if I can help you out in some way I'd love to try!

My first house was kind of like a condo. 

I second the recommendations on here to just ignore it and don't respond - you don't want to make any kind of commitments to him to have it looked at and then be held on the hook for that.If he's serious he'll get his lawyer involved, but until that happens I'd just block the phone number.

@Greg Grant For your scenario, I would think the cheapest money would be some kind of debt instrument on your primary home.

Although that kind of worries me, it does allow me to keep my reserves and use them for more investments.