I just closed a property on Monday with somewhat similar circumstances.

This is true in 90% of cases, probably 97% of cases for BP members, and not to nitpick, but there are circumstances wherein the person is W2 salary, doesn't own other real estate, has no self employment, their employer's HR is signed up for all the e-verifications, etc, AND the borrower correctly enters their employment info when filling out the online app ("ABC Company L.L.C." v "A.B.C.

This circumstance certainly makes the advantages of this clear to me now.As one payment has already been processed, would this be an issue to implement now? 

So depending on what you provided and your circumstances, maybe you are an attractive target.

I have read every comment and discussed it with my wife, but for unseen circumstances we will be unable to proceed on this property.

So, NEVER under any circumstances spend it...just use it to infinity. 

The other unfortante circumstance of FHA loans is that they don't have an equity line that you can use.

You pay points and interest depending on the circumstances but you also have the flexibility to pay interest as you go or pay at the refinance.

@Dallas Waldon  Generally you would request one of the W-8 series of forms from her along with her signature on your contract.The facts & circumstances of the arrangement, as well as the current tax treaty in place between the US and the Philippines will determine what withholding needs to take place on payments to her.I would consult your tax CPA/EA, or onboard one if you don't have one. 

I need some advice about what to put in my offer in case I find some unforeseen issues when I fly out to do my walk through.