There are many excluded, niche groups (beyond the scope of this post), but here are the ones that you could fall under:Large Businesses20+ FULL TIME W2 US based employees; ANDU.S.

We are based out of Kokomo which is right outside of Indianapolis.

Quote from @Brandon Leffler:I may sell my condos in CA as the HoA's have climbed to 400$/mo I wouldn't sell your condos solely based on HOA fees being $400/mo.

., funding, management, deal sourcing) based on strengths.Bylaws to Include: Cover profit/loss splits, decision-making processes, buyout clauses, and what happens if the partnership ends.

As already mentioned, he wouldn't be able to use rent from roommates to help qualify but based on the numbers you shared there should be a VA option available considering how much flexibility there is. 

FWIW, where you are buying is NOT a place that tourists come to visit.  

After 20 years in the investing game, plus working as an investor-friendly agent, I’ve learned that hesitation can feel like a big hurdle but often ends up being the push you need once you break through it.I’m personally based in San Diego, California, and licensed here, but I’ve also looked into projects across the country with folks who sought better cash flow.

Each option has different implications, so choose based on your financial goals.

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

When you deliver on your promises and provide exceptional returns, investors naturally want to share the good news with others.