The biggest difference is that you now have 75% of someones net worth and as a society we have decided it is a licensed activity....

I recently found an Urban Redevelopment plan that includes a very large effort to develop the area, VERY CLOSE to where my friends fathers property is.

Other than that you'll face similar challenges as those who are investing long distance but not necessarily from abroad...Great way to mitigate risk in those situations is as follows.Don't buy in the roughest neighborhood in the urban core.

Block Actual has some good features green space and cobblestone sidewalkBut came in under budget so move forwardOnly 10 houses on the block.1 just rehabbed , sloppy owner thoughMineAnd another slated for rehab next monthFrom feedback from potential buyersPrice seems to be correctShowings plentiful Issue is people think block sloppy, close to stores but this is urban living!!!!

Also, don’t listen to all of the “expert” naysayers above,(@Lucas Carl) is just lucky that they work in vacation markets instead of urban markets where regulations are more of an issue. 

FHA loans are insured for their value by the US Department of Housing and Urban Dev (HUD). 

(D)Except as provided in Subsection (E), for a conservation single family residential, single family attached residential, single family residential, small lot single family, duplex residential use, or two-family residential use, not more than four unrelated adults may reside on a site, in the following zoning districts:(1)Lake Austin Residence District (LA) Zoning District;(2)Rural Residence District (RR) Zoning District;(3)Single Family Residence Large Lot (SF-1) Zoning District;(4)Single Family Residence Standard Lot (SF-2) Zoning District;(5)Family Residence (SF-3) Zoning District;(6)Single Family Residence Small Lot (SF-4A) Zoning District;(7)Single Family Residence Condominium (SF-4B) Zoning District;(8)Urban Family Residence (SF-5) Zoning District; and(9)Townhouse and Condominium Residence (SF-6) Zoning District.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.

Thousands of records, some of which aren’t accurate or no longer reflect a tenant’s financial situation, won’t easily pop up and influence landlords or other screeners, said James Mackey, an attorney with the Legal Aid Society of Columbus."

They're not that bad of a person, and seem to be conforming to regular society.