Asset protection starts with operating policies and practices and the proper execution of both.

You can have great wins properly executing a strategy around STRs.

I know there are lenders out there who offer mortgages to foreign Nationals but what we are looking for a is a bit unconventional.

Just get a proper home inspection and investigate the basement quality, electric type (i.e. knob and tube, aluminum, ungrounded, modern romex), plumbing type (i.e. cast iron, galvanized, pvc), and just be overall ok with an older building material.

Like using heloc to pay down mortgage principal in chunks?

One thing I would recommend, though, is to connect with a trusted real estate agent to assess the ARV properly before you submit any bids.

@Randy Rodenhouse Thank you for the feedback - I was able to get a mortgage statement, see below

Unless your properties are free and clear or mortgaged so low that the rents will recoup your building costs in 12-24 months by adding more sqft...

I have multiple investment properties with mortgages.  

This can make it hard to get a traditional mortgage loan.