What ever the Contractor proposes you should not take as the only option.

If that's what you're really after I would start with the basics of what kind of bank loans either residential or commercial are available to you - not saying this is the best option, but it's a good place to start.

Especially in a more competitive market where the options are plentiful.

Quote from @Jay Hinrichs: Quote from @Guy Gimenez: Quote from @Tom Gimer: A better question may be is the program worth 10,000 pesos.When the DOS is called you can't reconvey to the seller and restructure the deal as a lease option... at that point the goose is already cooked.Exactly.

Find the style that people are doing in the area then find equivalent options for materials at local supply houses.

What you want to avoid is a lengthy contract with extension options.

This is not a great return, but not terrible.As others noted, there are other risks, like having the property insured at full replacement or purchase price, or if the option is 100% seller financing with no money down or very little, versus 20% traditional down payment, this can start to move it into a better investment.

Another option could be a home equity line of credit (HELOC) if you have enough equity in your primary or second home.

The credit thing should not be an issue for many DSCR folks like myself. 80% ltv may be an option, but,I have seldom found the tradeoff in cost/rate to be worth it in the last 12 months. 0% origination is possible, but, as others have said compensation is received in one fashion or another (higher rate, processing fee, etc.).

I’ll also connect with locals through BiggerPockets or Facebook groups for first-hand insights.If visiting isn’t an option, lean on a reliable local team (agents, property managers) to help vet the area.