It appears the owner is willing to carry a second mortgage.

. :-)Someday I would like to get some buy and hold properties in the US with good cashflow (maybe in the Midwest), buy I think it is easier for a foreigner to start with a genuine business.

However I fully realize that markets are highly regional.One thing I see these days at least as it relates to Multi.. is that there is a huge heard factor going on.. which has really driven cap rates down in many markets.. and you have at least it appears on BP  all these how to become a syndicator .. which their targets i am sure are multi.. 

The more you know the easier it is to create a win-win.  

Its easier to find 1-2 tenants then 10 all at once.

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I see a house in my city that appears to be abandoned, the doors and windows have been shut up with steel panels for months and the pool has been boarded up as well. 

Hi,Since I am currently employed full time I am thinking a townhome might be easier to manage in the beginning.

Do you think it's better to do a FHA on a true duplex and take the increase with the mortgage insurance or to do a cheaper single family where I could create a basement apartment as a makeshift duplex paying the 20% to keep the mortgage low and easier to cover with the rent it would generate?

I've looked into a few companies (USREEB, Memphis Invest, etc.) but haven't really drilled down into specific markets.I'm attracted to the idea due to the lower cost, so greater ROI than I would get on my money than here in the Tampa Bay area which is very hot right now.But also working full time its an easier way to invest than doing all the work yourself while still getting a respectable return.