Pretty much the same except you don't own it and would need consent to make changes.Also the owner gets all the tax benefits as they are the owner. 

In addition to other tax strategies like a cost segregation study on the fully rented out house.

This type of investment can also offer great tax deduction, depending on your situation.Best of luck on your first deal, feel free to connect with more questions.

Keep in mind tax's.

I love Mt Ranier, but the property tax rate is crazy.

I did all my other due diligence like asking for paystubs, W2s, Tax returns, Employment verification, bank statements etc etc and did not see any red flags overall.

I'm not a fan of flipping simply because I hate paying taxes when I don't have to.

Note if monthly rent is 0.5% purchase ratio, the property tax will be ~20% of the rent.  

I’ve read quite a few posts about foreign investor financing but most seem to deal with non-citizen investors without US credit or personal tax filings.

Now this is an annual thing (for all new properties).For rough math, you can generate a tax write off about 15-20% of the real estate value: one a million you can expect a $150k to 200k write-offs.