Sharing this idea in case others can comment on it.I agree, the US is more friendly about receiving investments from foreignors.You are planning to move back to Spain?

Question for any and all.. we have had trouble finding a real estate investor friendly CPA, one that proactively wants to help us learn and obtain all the tax rewards with real estate. 

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

South Jersey more landlord friendly than North Jersey, but you have more appreciation in North Jersey. 

Have other friends trying to do the same. 3.)

Not sure the current status, but I would say Plano is not AirBnB friendly. 

I would say our government’s a little more friendly and hands off but the Californians a certainly changing that. 

If they have been paying on time and taking care of the place, there is no need to screen them.If they want their friend or family member to live with them, then you screen that person and decide if you want them living there. 

I know in Virginia my friend had a similar issue (side-by-side duplex, though, not second floor) and he was not proactive, just warning them several times verbally.

Finding the private money seemed to be the biggest challenge my friend has had while doing this.