The lawyer we are going to hire is the president of the BAR in Belize so hopefully we get proper legal representation that will survive administrations..

Another idea besides DSCR which is the obvious best overview option for you ( though will be more expensive then traditional financing ) is partnering up with someone with a solid W2 job who can get financing. 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Those are good ideas.

Would love to bounce ideas.

I first turned 1 into 2, that into 4, that into 8, you get the idea.

As we have our own crew, we are hiring our guys on the books for liability and so we can show proper cost basis for sale.

I just never paid for the 10k programs so I don’t have the proper paperwork to make a deal happen, so that’s my biggest flaw for sure. 

He had that same idea that we might need sprinklers but he did say that it’s possible that there are exceptions regarding each code pending certain details so that is part of what they will figure out for you. 

Also, newbies have limited experience in with financing so the refi may be later than planned.Generally, I think its somewhere between a bad idea and maybe just a "trial by fire" for the newbie to learn about a remodel and don't necessarily expect to do the brr well.