@Stuart Bartle - If you are interested in Chicago and looing for some boots on the ground and building you team...I am happy to make some connections with lenders, agents, contractors, etc.Do you have a specific area of Chicago that you are looking in?

Most foreign buyers are high net worth individuals who want to park their money there in a safe haven and they don't need BP.No restrictions apply to American buyers in the countries they'd generally want to buy, including those mentioned by Federico and many other popular countries.When it comes to Spain specifically, some more conservative banks will ask you for a 40% downpayment (that would be the maximum) but that isn't the rule.

If you live there you probably have a good handle on the subtle market dynamics.One significant risk of buying any property out of state is that you have a lot less knowledge and first hand experience with all the nuances of that specific market.

Also price is irrelevant if you dont have a good team and a good contractor who you communicate  well with. 

Quote from @Austin Wolff: Hey Kegan, I published on article on BiggerPockets specifically to answer this question for people like you (and selfishly for myself):The 10 Best Markets for Your First House HackNone of the states you mentioned are on this list, however.

That said, the right team on your side can make the permitting process and inspections far less painful.I’m curious... as you refine your plans, how do you see yourself balancing the home’s original character with these modern upgrades, and which element of the design do you think will win over the pickiest buyers? 

ALSO, I have not had to do an eviction following a partial payment agreement (so I don't know exactly how that would pan out in our courts), all of my tenants have so far completed their payment agreements as signed.Multifamily Northwest has forms for these types of things available via the Rental Forms Center at https://rentalformscenter.com/ Their forms are typically well reviewed by local attorneys; as you'll note, on the Partial Rent Payment Receipt there is verbiage specifically about if the landlord has/has not served a termination notice and reserving the landlords right to eviction if the agreement is not completed. 

Are there specific reasons you don't want to rent them out (e.g. bad previous experience with a tenant)? 

Then ask them specifically if they help with this sort of thing.Oftentimes owners of businesses want their employees to "think like an owner."

Specific is how I classify loans toed to a specific property, and generic is how I classify our family loan that is not tied to any specific property, so I have to allocate it myself.