Worst that happens is it doesn't come off, but in many cases the company doesn't bother to respond and the bad credit can be removed.

The worst they can say is no.

For me personally, if I were down and out and cash poor I would probably do a worst case /best case analysis. 

I would always recommend Americans basing their RE portfolios in the USA, at least to start...worst case scenario, you can always come back and manage it yourself.Long term thinking, getting paid rent in USD will allows provide that "location independence/global arbitrage" strategy where even just a $1000/monthly cash flow from your US based rentals will provide a very reasonable standard of living in many South East Asia countries.Lots of ways to attack it.  

For buying the property I would assume the worst in making my offer. 

I'm not sure if this is what you're expecting, but I anticipated for the worst.

btw, it's not the worst I've seen, there is a piece of land near us that had 14 "units" for sale for $50k.

Hopes are running a little high (for me), but I am conservative so worst case I move on to the duplex and so on.I will for sure keep you posted and I will post an update on tuesday afternoon!

Worst they say is "no" and you're still in the same boat.I'm not familiar with Lanesboro, but most RE agents are going to want 6% on a property at that price range.I've been poking around the numbers, and it looks like this place is going to cost you at least $300/month even if you could refi it.  

I had a situation where it took the county inspector awhile to get to the property and when he finally did we got the worst of news, so we had to renegotiate but I could have cancelled the agreement legally.