Point #1 - foreigners can't own property - unless you're married to a nationalPoint #2 - you can own a condo - without being married to a nationalPoint #3 - you can Airbnb your condoPoint #4 - condos start around $38,000 upwards to $190K.I've toyed with the idea of offering a service to foreign investors as an American "with boots on the ground" to make sure their investment is properly setup. 

I was toying with the idea of taking the transfer, buying a house (or multi?)

I bought them for the long haul, to protect my future self from current myself.

I toyed with it for a while but figured out pretty quick:1.

An additional vetting by them may go long way in establishing a good team for the long haul.

I have not seen rents in those brackets drop much if any what I have seen is them go hundred % vacant and cant refill them because construction came to a screeching halt and the laborers left and many or most laborer's are tenants.. this played out in PHX  AZ   Vegas NV   FLA  GA  places with uber new construction .. when it stopped so did the jobs.this is all dictated in my mind on JOBS.. you have jobs you have rent stability jobs or economy falters people start moving in with relatives or they simply up and leave and go somewhere else.. there is a reason U haul is a billion dollar concern. 

Don't forget to put away money for trash hauling and clean up.

@John LeavelleI've toyed with the idea of a HELOC but don't want to mix business and personal. 

You are in it for the long haul, not the quick turn around profits. 

Can you buy a house now, if "no", why not change it to "yes"?