Ultimately, you will need to have the borrowed funds in USD and ideally in your US business entity bank account to sail through underwriting with US lenders on US properties.Caveat: the rates will likely be something like 10-12% so it would not make sense on a long-term holding, more like on a down payment on a purchase and rehab value-add project that you will eventually sell (or cash-out refinance) to pay off the borrowed funds in a few months. 

So I did not pay extra for it, but chose it anyway over other places.

Depending on how close I was to having 20% equity in the property and being able to avoid PMI, I’d consider using some of my cash to pay down the mortgage when I refinanced.

what would be the justification for paying that much?

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips)  a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor)  in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.

@Dillon Clark-don't pay extra down on your mortgage-don't use a HELOC-save up as much as you can-hope this helps

If you want to keep it, then would you refinance that new build to pay back the HELOC? 

It seems more your fault for choosing the "lying" contractors from the tenants point of view, if you ask them to pay up, I'm sure they would.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

Up to the investor to decide what it is that they want to pay for.