The cleanest route but the least attractive method for most investors is to have the investor provide debt.

Don't have answers, but definitely following this thread!

I'm aware of this model just as Jason is BUT it isn't the model that we follow.

What are the costs for the value adds, the expected hold time, and the expected sale price? 

It's definitely possible to get a loan as a foreigner but the rates will be high(er) and the downpayment required will be as well.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

We compromised on the desing as well as the tenant. 

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

As to the quandary posed by the OP: The root of the issue is that it basically sucks to be an RE investor these days.

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