Welcome to BP,My advice would be to intern or shadow someone already doing the work you're mentioning.

@Ronnie GalindoIf you can wait another year, look into Internal Revenue Code Section 121 - exclude the gain from sale of your principal residence under certain circumstances. 

I highly recommend you consult with a knowledgeable CPA in the area of international/cross-border taxation especially as it pertains to estate taxes.You are correct - a nonresident alien is generally subject to an estate tax on their U.S. situs assets of 40% on the excess of $60,000.

I want things to be transparent and I'm nervous about international rules and regulations etc.

Sure, you can make more money in real estate in the more boots on the ground fashion, but it sounds like you'd be much better off looking for truly passive forms of investing as recommended above.

@Jessica RolandIt's nice when they do internal appraisals. 

I get $450-$500 for recently renovated, 1 bedroom units in the International District and those are only getting $537-$556 for 2 bedrooms.

You will find the instructions on the department of treasury internal revenue service publication 487 (Rev. 1-2006) Catalog number 46553K www.irs.govLet us know how it goes. 

It is an international property which I have seismic report on and is privately owned.Over 1 billion barrels of oil reported on the property. 

Now the tenants will have an internal psychological battle with themselves thinking that their demands may be unfair. :)Either way, it's a great book and I recommend it to everyone!