We will be investing through a US corporation and all partners (and there are many) are foreign nationals so we cannot give any personal guarantee or collateral.

Just suck it up in the short term and reap the benefits in the future.

How are the utilities billed?

However, you have to take in consideration the amount that would cost you to use that money plus the new loan on the multifamily.

Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in  CO FLA WA ID MT NV AZ OR TX SC GA VA  one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..

NMLS Consumer Access is a fully searchable website that allows the public to view information concerning state-licensed companies, branches, and individuals licensed and registered through NMLS.

website is www.federa.com   it looks like they sell foreclosed and pre-foreclosed properties? 

You could try explaining to your previous lender that while you value the relationship, the numbers make more sense with the new lender this time. 

I've sent you a connection request and would love to connect to get a better understanding of the market.

Whenever I speak to a group of students interested in real estate, I always stress the importance of networking and simply asking people to coffee.