On some properties (newer) a 40% op ex ratio may be better on other (older) perhaps a 55% to 70% op ex ratio is better. 2.

On the anonymity side, it’s worth noting that the cells of a TN Series LLC are not recorded with the Secretary of State.

If you've got to ask a question on an online forum about managing an out of state or out of country renovation, you aren't ready to do this on your own.

Quote from @Chris Rhodes: Quote from @Ronald Rohde: I follow him on twitter, maybe ask him for a direct referral? 

I'd work on getting her out and dealing with the problem. 

My exit strategy is to refinance into a Longterm USDA loan, after the Tax Map Key is issued in 10-24months.I plan on farming crops on the land.

Additionally, many properties on MLS in need of rehab are in C-/D class neighborhoods which I have no interest in living/owning in (at least starting off). 

It is tax free in the sense that you will not owe taxes today on the cash-out.

Then focus on finding professional vendors that can clean/repair, as necessary.

I see a lot of syndication deals where you follow the money (I have not reviewed the above so I cannot comment on them) where the money all goes to the sponsor in upfront fees and other entities and all the risk falls on the investor.