Out of Country US Real Estate Investor

[Peter Seely]

Hi,

I am an out of country potential buyer in a rental property in the US. I have some concerns and questions:

1) Any advice as to how to start? For example protect myself from buying a slum or a money pitt. I am looking at Realtor.com, apartment ratings, crime reports, unemployment rates for each location etc. Any other sites to use or thoughts(likely a long list I am sure)?

2) Should I always go to close the deal before sending final funds? I would off course have the property inspected, lawyer/title company on board then and agent.

3) How do I find a reputable property manager, that can market my property, manage rental income, and pay expenses, and deal with tax?

4) Should I get a lawyer or title search company like First America? How do I find a reputable lawyer?

4) Anyone have any caution regarding tax implications for foreign buyers. I see I can choose to get the witholding tax of 30% taking off automatically by property manager but I can also complete a form to be taxed on net rental?

Again, I know I have asked alot of questions but please bare with me as I am a newbie to US real estate and a beginner.

I appreciate all your help.

Peter