In most cases, you'll need both the security deposit and the first month's rent, AND in a lot of cases (lender specific), the lease will need to be supported by the 1007/appraisal (even though Fannie says "Or").

The agent will prepare a commitment with requirements for closing including a deed from the party the insurer believes is authorized to sign the deed and any supporting docs they need to be comfortable in issuing a title policy to you w/o an exception for your concerns.

Make money, save money, buy a house in a neighborhood they believed in, manage it well, and hold it forever.

But if I am not raising capital here, just putting the money to work here, why would the local capital-raising laws apply?

That's not a lot money!

Yes, I don't want to waste time, but I also don't want tenants wasting their money.

It's another form of borrowing money.

They're not going to waste their time helping foreigners knowing that many will end up not buying.I'm happy to refer you to my lawyer once you have found a property but it's better that you choose one in the region and province you're going to invest in as there could be "legal" differences pertaining to you.On another note, it's important that you realize that strategies that work in the US might not work in Spain and financing is different so you might want to figure out first if that works for you first to make sure you don't waste time and money unnecessarily.Hope this helps.

The seller would like have to carry back 5% - 10% and it would be unlikely to work for the property that is 68% occupied because the DSCR would probably not support an 85% LTV loan, unless you are getting an absolutely screaming deal.Do the 140 units need rehab?

Depending on what the numbers look like some of the funds allow you to pull equity out after a few months. which would hopefully allow you to put money back into your heloc.