However, if you convert them to individual unit, and you had intentions to rent it out and hold long term, but you get unsolicited offer, you could get cap gain treatment. 

So I was referred to them as someone who has projects that they can invest in as an alternative to the project they just lost.

One alternative is to take on financial Partners and maintain all of your control. 

I found this that might help you ....https://www.studiolegalemetta.com/en/italian-mortgages-for-non-italians/https://www.casatuscany.com/finance-alternatives-to-bank-mortgages/My guess is most US institutions do not want to do mortgage lending abroad unless you are very high net worth individual.   

They usually maintain nicer because of the purchase agreement existence.There are many folks who have not qualified by a bank and do not know there's an alternate that will take owner financing. 

The main alternate would the Agents agreements to use. 

There are many state, federal, investor, lender specific qualifications for alternatives to foreclosure and a loan mod is but one of the alternatives.

I need to replace new roof, replace windows, pain and fumigation for termite treatment.

Here are the options I’ve outlined:Traditional duplexSFH with a basement to convert to a small lower apartmentSFH with correct zoning for an ADU (Alternative Dwelling Unit- more reading here:Pre-purchase two townhomes from a developer before they go on the marketWhat would you do?

I'm not going to go into full details but typically owner occupants get preferential treatment on those houses.