It is indeed possible to buy insurance policies in a foreign currency by using an ATM card (although it seems that there are challenges to deal with too)http://www.bloomberg.com/news/articles/2016-04-07/...Using a Chinese ATM card to buy a property in California is not something that will work.  

Finally I will be managing the property myself.I am financing the initial purchase of 76,500 with a local lender by using a construction loan, they will then have an appraisal done to estimate the ARV.  

Has anyone used or know anything about using a 401K solo retirement account for real estate.

Are you sure you are okay using a family member as a capital backstop?

Being able to be a cash buyer you will be more competitive in that market.After selecting a niche and a market if you are using a known competitor get a pre-approval loan letter that says about how long it will take them to close and what is your maximum amount you qualified for.  

She replied admitting that she should have been using a power strip. 

You are probably using a 20% down payment (so your personal investment is way lower than the published price) and if its a rental, then the tenant will be paying for your Mortgage, so, in summary, you are getting (if the project is a good one)  some net chas each month, as well as some Acurde Equity and Appreciation, so  the way to go to calculate if its a good business or not is by getting first a Positive Cash on Cash return and as well a Total ROI that meat your investment criteria.  

Hi BP Community - What is the general consensus on obtaining a construction loan vs. using a line of credit to finance property renovations?

If you're using a Reg.

You would need to talk with the landlord and be sure they are open to using a master lease or allowing subletting.