@Emma Whear I might suggest you talk to a local real estate attorney (or another owner of a similar property) to make sure you prepare yourself if/when the City's blind eye starts being able to see ;-)

Being proactive ensures you’re always a step ahead, minimizing risks and keeping your business running smoothly.Example: Imagine you implement an outdated tenant screening policy that inadvertently violates a new anti-discrimination law.

But it does give an easy way out for busy out of state heirs who don't want to deal with organizing with other heirs to redeem the property, put it on the market and split the proceeds.

Ultimately, you will need to have the borrowed funds in USD and ideally in your US business entity bank account to sail through underwriting with US lenders on US properties.Caveat: the rates will likely be something like 10-12% so it would not make sense on a long-term holding, more like on a down payment on a purchase and rehab value-add project that you will eventually sell (or cash-out refinance) to pay off the borrowed funds in a few months. 

*I know the markets really well even better than some local agents.

My business partner and I just opened up our property managment company in the Chicago/Chicagoland area and it is not easy to do this the "right way".Honestly you can get yourself into some serious trouble if something happened with a tenant, an injury, anything and they sue and find out you don't have a license.

We have built a very similar business here in Austin.

If I'm staying one night somewhere, a quick business trip or something into Denver to show clients homes, a hotel is my choice.

Research local rental demand, especially from military and university tenants, and consider balancing your portfolio with single-family and multi-family homes.

Are you investing in your local market?