Alternatively, explore conventional loans with higher down payments for potential flexibility and lower rates, or check out private lenders for more complex projects.

Thanks so much, I am new to all this and don't want to waste time or money.Hi Brian,It's great that you're being cautious with this potential property purchase in NC.

Hi BP community,My wife and I currently live in Brooklyn, NY and are potentially looking for a summer home / other season Airbnb rental up in the Hudson valley (max ~2 hours from the city).

The answer to this, as well as the potential current value of your father's home will determine what options you have.

I understand that we made a mistake by not checking the covenants of the main HOA, but mainly went with the sub-HOA rules which don't mention anything around multiple properties for lease.Property A's lease expires end of this month and I have a tenant lined up to start a new lease term from 2/1 and Property B's lease expires in April and the current tenant is a long term one and would like to renew for two years.My preference to at least keep both of them through next January and potentially sell or transfer Property B to my son who is graduating in May and have a full time offer in hand. 

Also, you didn't mention a lot of the basic data that most sophisticated investors would be looking at, when evaluating the potential risks of a new deal.

I would not rely on the agent's contractor and their numbers but maybe you or they picked up on potential problems that were overlooked. 

It had a LOT of value add potential, so we pulled the trigger.

At the end of the process I would like to end up with a good understanding of the questions that need to be answered to potential foreign investors.

If you want to expand in this market, we currently have 6 properties available with amazing potential.