Took us forever to get it released because the bank wasn't getting anything for their work (business loan with residential property used as collateral).

Here's my current issue:only make about 60k (assuming that would only qualify me for about 270k)almost out of debt(maybe 5k)essentially no money in the bank (spending it all on debt)land around me is ridiculously expensive(MA)(have a VA loan)wanted to know if this concept would work1a.

If you can stand a duplex try it ( currently doing that in DC).2) Brick and mortar banks will beat Quicken, they just do not work the hours they do.

@Tom Gimer  Bank will prepare note...

Any small bank will be able to do this loan. 

@Joe Bruck for a commercial/portfolio loan, each bank will make their own decision on this. 

The sticking point is that the bank could have an "overlay" concerning this, meaning, they may not allow it. 

The smaller banks/credit unions in Fort Worth do not seem to be willing to refinance investment properties - Colonial said that they would, but they want me to have less than 4 investment mortgages and I've got 5... 

Also, just be aware that banks will want 20%+ 6 months debt payments available in cash.   

He is looking for help with setting up a US bank account without having to come here.