Conceptually, I think I understand what's involved; but the nuts-and-bolts and the nitty-gritty are foreign to me.Looking, then, for a mentor who can help me learn the ropes, identify legal forms and systems, private lenders and buyers, et. al.Looks like wholesaling is the best and most practicable place to begin since it doesn't require a huge upfront investment, but honestly, I'm not sure exactly where to start.

The US is the #1 country for foreign investors in real estate.

(Ignoring cap rate compression, and assuming rents are already at market levels, and that the seller's managing expenses well)On the flip side, getting a loan for a 100% occupied property from a bank is easier than a non-performing asset(considering that I'm a foreign national and getting financing is already hard enough), and there's an easier transition into the apartment world for someone who hasn't worked on that scale before.What are your opinions?

Always underestimate the value and if the numbers still work you will know its a great deal.The city appraisal is BS in my opinion and so are BPO's.I also believe that in lower end areas there currently isn't any true value and it just comes down to what cap rate the investor wants to achieve.I have seen houses sell for $2,000 in these lower class areas and then another one across the road for $80,000 (unsuspecting foreign investor).Thanks for reading and have a great day.

If I am located in a foreign country, can I get a US bank account?

The US is the #1 country for foreign investors in real estate. 10 Hotspots exist 6 in FL, NYC Honolulu Vegas and Phoenix.Check out the Start Here page http://www.biggerpockets.com/starthere Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice.

I would also agree that successful foreign investors have noticed this potential a little sooner and have been attempting to buy homes by the hundreds.

For now I intend to pay cash because it seems too expensive to borrow in the States for a foreigner.

And be a principle or at least the appearance of a principle in your company.. maybe that's for the foreigners benefit, being a fellow Kiwi.

Regarding number 1, most states require you to register as a "foreign entity" to do business in the state.