There are no requirements for non-citizen or non-green card holders to buy property.

You are expected to attend company and your local and state commission meetings from time to time which eats up your time.6.

But in a bad area it wouldn't take much to eat away at the cash flow.

Using hard money would expedite how often I can fix and hold properties but 6+ month of holding costs can really eat at potential equity.Any thoughts?

If you do not close they eat the cost. great if seller demands a quick easy close.

It's not common but again if you do not have experience in that space or you are not using someone who has it then you are likely to get railroaded as a buyer through the whole process.Seller and listing brokers look at green buyers as a way to take advantage.

I would have to pay him 80K, which is how much he paid for it, but the house was appraised at 135K and I'm looking for ways to tap into that equity without incurring to much costs in closing and such that will eat away my equity. 

I eat out once a week (I pack my lunches), no cable TV, cell phone bills are below average.

That would get old really fast, and would eat into any profit from the property.Best of luck, please let me know if you have questions about the Wilmington area, I know it really well!

You need to find out about those utilities, that could eat all your cash flow up quickly, even if you only need to pay sewer.