I have been playing the multifamily game for almost 10 years now, and the GRM is one of my least favorite methods personally since it ignores so many important factors (steam boiler versus electric baseboard heat as an example). 

Trusting a GC can work if you thoroughly vet them, use a detailed contract with clear milestones, and establish systems for accountability.

Hi Shakti, As a lender we do work with US-visa holders as long as they have an established credit score in the US.

Note the below bill was proposed, establishing a 5-year moratorium on condo conversions in high population/population density counties (basically Hudson County only).

And boom you buy a lot for the price of a single lot and with some simple forms to the city you get to re establish the old lots..

What makes it tough in the beginning is your rental income is not established so you need to be able to handle the debt not using rental income. 

The rental game is funny in that you want to responsible enough to always make rent, but not successful enough to easily afford buying a house.

So you really need a downpayment + 15k to be in the game.

The only exceptions I can think of are a lack of experience frustrating your financing process or where the GC has such a well established brand that a buyer will pay a premium for a home built or renovated by that particular contractor.

It's not a get rich quick scheme, it's a lot of active work and I would have 5 yrs in my head at a minimum before you truly become established and stabilized.