So they price those homes at what a willing homeowner will pay for their personal residence.

Tell me - someone selling their home to your son, Subject-To - is this a person who has made good life choices? 

The GSEs, Fannie Mae and Freddie Mac, both allow the use of foreign income under certain circumstances.In the personal tax returns provided by a borrower, you may see an IRS Form 2555, which identifies the foreign earned income.

I was thinking if I can talk to my neighbor about sharing the cost (I, the landlord, personally provide labor and my neighbor provide material (e.g. fence pickets)).

With a Conventional Loan you can buy a SFH, Duplex, Triplex or Quadplex with as little as 5% Down if it is your primary residence as long as you have the intention of occupying one of the units for 1 year after closing escrow.This is the strategy I have personally implemented and have assisted many of my investor clients in doing the same. 20% Down is also beneficial as it keeps your payment low but it does limit your ability of buying more real estate faster.i would be more than happy to discuss the different strategies with you over the phone or in person.

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.

I would recommend anyone lending in this environment to fix and flippers or any type of investment to be careful and get a personal guaranty and make sure person has a long track record.

I started my jouney here in 2011 and I am still learning everyday - especially from others on this forum.My personal portfolio is located within Stamford and Bridgeport.

I have not done it personally but have some insight, maybe my reply may boost your post to someone with more experience in it. 

I got a deal on labor as I know the contractor personally and helped out a bit with the project.