As long as that contact is limited to just attempting to get the borrower to acknowledge the problem and begin working through it, basically get them to become proactive in looking at their options and deciding what if anything they can do about it are you still compliant and legally able to make that contact? 

As long as the money is used for biz purposes, it would be hard to contest the arrangement.

Coming fresh out of college and making good money or from large metropolitan areas, they don't blink an eye at what locals would consider higher than normal rental rates as long as you provide a good product.I had one applicant that was a biochemist/engineer from Chicago working for a company that specializes in growing roses, of all things.

I have a 4 bedroom in altamonte springs,fl and I am looking for a affordable, fair and honest handy man in the area, maybe Orange County as long as they are willing to travel.

As a buyer I will try to get it as long as I can.

Some investors I work with don't want to buy anywhere they don't trust their mother living, some don't care as long as the cash flow makes sense, and others are buying, speculatively, near where new development is taking place.As for Little Haiti, it really comes down to your preference.

You want to buy a 4 unit or less as your first investment and keep that owner occupant status as long as possible to avoid paying capital gains taxes.

On the positive side, sometimes banks will give you a great price on a foreclosed property, so it can work out very well, as long as you clearly see the potential issues.

Remember, you can flip out of an FHA loan as long as you make enough to pay it off.  

If you can take HELOC on your current place you can basically use it for whatever you want generally.As long as it doesn't mess up your DTI ratio and credit score it probably won't matter on the other end either.