I was approved for a loan on a 5 unit building but For me being new to commercial I figured going bigger with guidance was a better option.

@Deron Jewett you can use one FHA loan in every 100 mile radius.

I'm a US citizen but currently living in Israel, and I'm in the process of purchasing a property in Columbus Ohio.My plan is to do some rehab and therefore I want to take a hard money loan which will cover 80% of the purchase price and 100% of the renovation.While talking to the title company, they said there was no problem with me signing with a remote notary.But, the problem is with the lender who requires a wet signutre, and has given me the following options:1.

The timing with the 5% loan product released was impeccable.

I use the rent estimator to find average rents.In Spokane, where I'm analyzing, the average "good deal" is around 1-2% when I put down 20% with a conventional loan.

A HELOC is a short term loan that needs to be paid back and is typically interest only.

Are mortgage points paid on a rental property deductible the year the property was purchased, or do they have to be depreciated over the life of the loan?

My loan feel through because I didn't have enough time in the army to use the VA loan and I was counting on it the whole time so since that feel through I hade to go the FHA rout witch increased my interest rate 1.3 percent and on top of that I now have to pay PMI and if I had been planning more than one loan in the begging I would have been prepared Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

You are going to cost yourself so much money, and time (time = more money).......I'd strongly suggest that you get over your aversion to loans and take one on for a small, medium distressed flip and get a good GC to help you put lipstick on it, then sell it for a little bit of profit.Now you will have some experience and a much larger comfort level with the whole deal. 

Trying to secure lending for an off-market property and learning the struggles of finding hard money loans that go below 50K.