They're pretty organized, but expect annual inspections and some extra paperwork. 

We work with experienced operators that have great reputations and are doing multiple deals at a time. 

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

I am curious to learn how these operations are managed from abroad.From what I've seen, it's 100% possible to invest in real estate in the United States remotely.

If this is correct, how much are you cash flowing each month after you pay your operating expenses and make your loan payment?

This isn't 2011-2013 days but many people are stuck in that time period STILL.As I finish my licensing study, I'm very grateful I chose this route as opposed to being a one trick pony.Wholesalers did themselves in by their method of operating.  

The investors must be provided a Private Placement Memorandum, subscription agreement, and operating agreement.  

I operate from Pensacola to Destin to PCB.

Quote from @Jesse Valdez: When operating a business, it pays to know the laws.In most states, guests staying fewer than 30 days can be removed by police for failure to pay rent or obey the rules.

It works just fine if the operator knows what theyre doing and structures it correctly.