It is about the long term appreciation of the asset.

I am not a mortgage broker, but my limited knowledge is you can (if you financially qualify) and the property has different second home features it is possible. 

This has resulted in an unexpected financial burden of $7500.In light of these circumstances, I am seeking advice from you all on the legal options available to me.

You may have other non-financial costs associated with this type of property that compensate for the greater cash flow (e.g. additional risk, needy tenants, tenants whose priorities do not leave room for taking care of your property, etc.). 

Hi Bianca,Getting a construction loan is pretty difficult without experience or assets to collateralize.

I am looking to expand and I want to purchase my first duplex to house hack or do my first flip which both ventures require me to have my financials in order. 

I am a financial advisor that specializes in working with business owners and real estate investors.

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

And even if you could, the interest rate would be way higher than it is in the US.I've been a big supporter of international investing on BP and elsewhere but long term rentals outside North America generally make no sense, financially or otherwise.

And without knowing your full financial situation, it's hard to give you really practical advice.