I'm starting from scratch here in terms of the US market, laws, taxes implications, etc.Thanks a lot for the support!

In terms of GRM, to me that is not a meaningful number in terms of return on my investment.  

In terms of a good country location to invest in with the best future appreciation here in Mid TN, I would go for anything in Williamson Co.

I was wondering what should I do this summer in term of internships, and how do I go about generally getting started?

@Matthew Horn some clarity on what you're getting into with a pre-1940s house:They didn't have much in terms of appliances back in dem ol' days.

Well if you are talking about investors from other countries, you have to think in terms of rampant inflation.

HI Cort,Most of my lending business it out in OC and debt to income ratios for many borrowers have really been stretched and this is in an area where many people have very good incomes comparative to other parts of the US too.Incomes are not going up as fast as home prices are and the only real thing that is keeping affordability in check are the mortgage rates.Assuming we dont veer off the track of full doc income/credit/assets we will eventually hit the glass ceiling in terms of qualification and the market will in theory not be able to absorb inventory at the pace it has been in the last 2-3 years when this ramp up started Jan - Mar 2013.If I were you I would look at the cash on cash returns on the equity and the risk of the asset in the market that its in (Indio) and figure out where to most efficiently position that equity to achieve your preference of return, safety, and ease of management.What I do recall is that riverside and San Bernardino counties got hit really hard back in 08-11'.

Don't remove it...it shows as positive arc in terms of the procedure and process for a smaller investor buying and rehabng in Detroit .

However I feel these notes are risky in terms of the payor defaulting on the note when doing a loan mod. 

The companies that wholesale them are great in terms of managing your investment for you.