As far as taxes and insurance, I'm basically going off his numbers (plus increasing by 3% for inflation since his numbers are a year old).  

That is, if you don't cease to use it as a multi-family, the use would remain legal.  

So the classical personal Mortgage is out of option for me.I was thinking to create an Ltd. in UK, Buy a property 100% with this Ltd. so that Ltd. would have a fix income and real value so the lender is save.Would that work in general, if I would try that in the US with an LLC and stay in the US.to Ukraine.The current mortgage rates for UAH (their currency) are at 20.50%, inflation is at around 10%.

My down side (do-nothing) analysis looks like (with rents raised to market):Market Rents: $1750, $1600 = $3350NOI: $3350 - $1622.05= $1727.95 -> $20,735 per yearExpense:Income -> 48.4% Cashflow: 3350 – (1622.05+1778.47) = -50.52 -> -25.26 per door.Not too great for cashflow if the existing conditions remain unchanged.

Also, there is no legal restriction on a lender collateralizing a property in another state, so my advice remains the same. 

I see RE as inflation hedge. 

I can't quite put this together in my head -- if as you say you're looking to rehab to the point where you'll reach a higher plateau of tenant clientele, then that sounds like a pretty big do-over, and tenants couldn't safely remain during construction -- how can the current tenants not have already been informed that on a given date they need to be gone?  

I would like to use my VA Home Loan to purchase a 4 unit apartment and live in one unit for at least a couple years and use it as a home office, while renting out the remaining three units. 

Right now we have only had one person in America with Ebola, but it will not remain that way if we aren't diligent, and come up with a reasonable policy to keep it at bay. 

Assets are sold for the benefit of creditors, there can be assets remaining if everyone gets paid as in accessing the bankruptcy a lower value may have been accepted.