Basement rentals are illegal on the Virginia side of the border.

I have no desire to lose money monthly to gamble on appreciation, if I want to gamble I'll buy a lottery ticket.  

I appreciate that because I do think it's bordering on dangerous.

@Wayne Brooks yeah it seems like conventional loans for the 4 plex are on the border. 

I feel the market is gambling.

I found a couple on the border of Sac/Elk Grove and in the good Elk Grove school district.

They tend to have affairs and gamble.

I highly recommend you consult with a knowledgeable CPA in the area of international/cross-border taxation especially as it pertains to estate taxes.You are correct - a nonresident alien is generally subject to an estate tax on their U.S. situs assets of 40% on the excess of $60,000.

My business partner and I host a quarterly luncheon with Harry Borders and SurePoint. 

I don't want to gamble that I'll be able to rent it out at the higher rate.Thanks Frankie, At this point I can't tell if there is any value add stuff, because I've only seen the outside which looks alright.