Make sure your financial modeling is SUPER conservative with a lot of stress tests.

Interview a couple of management companies and get their income projections, but definitely be conservative. 

Find good properties with figurative moats around them (lake, Mountain View, proximity to attractions, etc.) use conservative projections and move forward

You could buy a CD right now at 5% and make a better return and that is a VERY conservative choice with much more advantageous options available.

As such, I would suggest being very conservative with your cash as loosing principle will be quite impactful.I understand your desire to earn the highest return possible, but keep in mind that you often need to take on higher risk to get a greater return. 

I would suggest exploring outside of your local bank as well and exploring U.S-based lenders that work with foreign nationals and compare as banks tend to be more conservative and therefore more limited especially once you venture beyond a single-family household or condo.

Thus, if someone wants to invest in a more conservative investment, but still be able to grow significant wealth, investing early is the solution!

When prices compared to rent were more affordable, I thought the 50% rule was conservative in San Diego but I no longer believe this to be the case. 50% rule is fairly close easy predictor. 

To be conservative, I'm rounding down occupancy to 70%, which for 3 cleanings per month, would mean rental income would be ($220*365*.7*.6)-($30*3*12) for a monthly income of $2,720.

If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.