To make my point, if you own a property and have an amazing 2% interest rate but only cash flow $100 per month but can buy 4 units and cash flow $400 per month but have a terrible 10% interest rate all things equal would you not do it?

If it were a dog of a property and still penciled like this, I would be equally emotional.

Abroad, the challenge is equally glaring.

I think between the last option and this one, most folks would pay the 1% + 0.25% for the lack of PPP.Commercial Mortgage Backed Security: Net worth must be equal to the loan amount, and liquidity must be 10% of the loan amount, absentee borrower is fine/normal here. 

All things being equal, the party that submitted first should theoretically have priority? 

The loan we were applying for is an FHA, which stipulates we must provide a signed lease for our half of the duplex (to be newly rented out) but for the other half which the parents "own" (in reality all three are equally owners of the entire property.) we would need to provide proof of rental income on our tax return, however her parents claimed that so we seem to be SOL.The mortgage is covered, we can rent it out no problem, but the underwriter is saying on paper it looks like she is responsible for the whole duplex and the rent for half of it is unreportable.

One last challenge is their estimate of property taxes - they are all VERY low:(Michigan has some interesting property taxes because there's a Taxable Value and a State Equalized Value, as well as Homestead and nonHomestead millage rates. 

She had a choice of putting down a deposit equal to two month's rent or paying monthly "deposit insurance." 

So to answer your other question,  the estimated cost for this build 3 times the cost of that duplex build for roughly equal square footage and including the lots and utilities and everything for both. 

Point being - if appreciation is close to equal to the interest paid on savings (5% currently) - wouldn't it be much easier to take the 5% from the bank with no headaches associated with owning the property?