The two apartments are leased currently at a value of $1300/month total.

I’m a brand new investor currently in college and I’m looking to invest in my first rental.

I've received this question from 3 investors in the past week so I'd like to just put my 2 cents out there for what works in my current market. 

Land is unrestricted and not land lockedI’ve already got one rental and my current house will be a powerful rental.

I'll sketch out the (current) terms first and then lay out my concerns/questions:Proposed Terms/Assumptions:- I contribute my land to the project receiving accrued interest at end of project (at rate similar to hard money rate).

I am currently working on new deals.

Not sure what you mean at 2.75%, current rates probably around 7% depending on your credit and down payment.So you own a home now and looking to rent that one and move to a owner/occupied 2-3-4plex?

My girlfriend has a house with about $500k in equity and divorced a few years ago. The house in under her name but the ex is paying a portion of the mortgage because she has the kids and he is the one in the mortgage....

Did you mean in my cashflow currently or the cashflow im hoping from the property.This was a hypothetical situation but in this case with kansas city market the cashflow from this property would be 300/m while my current cashflow is 580/m

About the refinancing topic, it will most likely be hard as normal banks in Spain are currently not providing these loans to individuals.