Overseas investor US real estate dilemma

[Michael T.]

BP members, I am looking for some advice on a significant real estate shift that I am looking to undertake. Presently I have 2 SFH overseas that have cap rates of 6.5-7%. They are new homes built in 2007 that have not required any maintenance and the landlord laws are favorable in that I do not worry about the property until lease renewal. I want to take some of the equity out of these properties.

Presently I am looking at putting this money to better use by investing in multi-family or SFH in strong cap rate areas of the US. Let's say I have 300k cash and my initial criteria is minimum 9% cap rates, 15-20% cash on cash return and built after 1990. My target areas are Charlotte vicinity, Raleigh Triangle, South Carolina, Georgia. Are these numbers achievable in those areas or will I have to move into Ohio, Indiana and consider older properties.

1. Can I obtain a mortgage on a multi-family or SFH if the numbers are strong without US assets and living overseas?

2. Will being an absentee owner create a lot more risk that the property management company will neglect my property? Is there a way to mitigate this by giving the PM company performance incentives for occupancy, NOI targets?

3. Any other areas of the US where these numbers are achievable?

4. If you were in my situation what would you do with the cash?