You can still qualify so long as you have verifiable income.

Los Angeles County continues to grapple with devastating wildfires that have claimed five lives, destroyed over 2,000 structures and forced the evacuation of at least 130,000 residents.

@Kyle Carter, The strategy you're looking at would be what is called a "consolidation exchange". followed by a conversion to your primary residence. 

Yes, Spain is one of the countries in which banks will lend to non-residents (they generally don't) but Spanish banks are much more conservative than US banks so it's more difficult to qualify, especially if you don't earn W2 income.

I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

Does that qualify for a home office tax exemption?

We are looking into getting a fixer upper and plan to rent out our original residence ( Zillow says we can get $2700 median rent in our area ) while moving and fixing up the new house.

Investment Info:Single-family residence fix & flip investment. 12 Lincoln Street is a single-family home located in Sag Harbor, NY 11963.

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

Here’s an example of what I've used if they don't qualify based on what's on application.