Nice idea to partner with another investor...just need to find someone where there's mutual trust.My only other option is to find a CPA or organization that can help me transfer my pension funds in the UK to my US account!

It's a much safer gamble to make.Plus, if Sacramento ever pulls off a high-speed rail of some sort that could get you from Sacramento to San Jose in an hour, the real estate market here would completely EXPLODE!!!!

This course is supposed to get you started and help you with the necessary (or some of the essential) orientation on foreclosure properties.Provided that I am in the UK, I was advised flipping houses could be done from anywhere....so my physical location shouldn't be of any concern.

If you're looking at $50,000 or more in capital gains, it might be worth the gamble of not finding a suitable property. 

Pro:Appreciation , which is almost similar to CA market, and much better appreciation than US nationwide appreciation.No huge amount of tax when selling,etc,etc,etcCould match with lifestyle or "partner" choice"Much cheaper and return is worthed the dollarCons:lower cap rate than USA in general, even compare to CALeasehold vs Fee simpleCurrency depreciationNo financingI am back and forth investing internationally and US in last few decadeThe huge advantage of US investing is that, in general, even for CA perspective, home still so cheap, go to new zealand or UK to understand the concept of "expensiveness" of real estate LoL

This was a known risk you build into your numbers and now you wait and see whether your gamble pays off or not. 

There is no scam and I find it appalling that you want to deny math.If you can show how you get access to equity in your simple interest universe where the lender requires you to spend the vast majority of your monthly payment on your amortized mortgage to cover interest, I would be happy to hear how.Otherwise I suggest you stay away from the word scam - or maybe you read up on how houses in Australia and the UK are financed.

I can't imagine the bank wants to hold this property, or that anyone else is willing to take a gamble for much higher then I am willing to go with all the unknowns attached to the home. 

Consult your real estate attorney ...Also, see the article Vincent G. linked to.... or gamble your freedom and your investment portfolio. 

If you buy bad deals hoping the area will appreciate, you're still gambling (pardon the pun!)