Location is the biggest driving factor. 

The two properties are almost twins with basically the same layout size and such.

Here are my quick numbers on the deal:$1,600 gross rent-$570 ish for mortgage-$160 for management (10%)-$128 for maintenance (8%)-$128 for CAPEX (8%)-$128 for Vacancy (8%)=$486 month or $5,832 a year (12.9% CoC)Then you still need to budget for Taxes & Insurance, this would drive down your return further.

The basic principles will apply.

basically just asking how to submit a offer on a house I want and do I need contacts to do this ?

We have been in the talks about this for over 2 months now and I have been gathering different ways and plans to go at this, like different loan types for foreign buyers and even me as a buyer of the homes (with their money as down payments) and do rent to own type deals, as in they basically rent until they own the whole thing.

My sister wants to get involved and will be helping by assisting me in whatever reno projects we can do ourselves (probably just painting, tiling, flooring, and basic stuff to save on labor) and by letting me use her good credit for finance options.

I knew nothing about the basics of real estate and after confiding in my dad that this is what I wanted to do he pointed me to Bigger Pockets, which I then learned by all the educational tools that not only can I do what I know I would love and enjoy doing but that it will give me a life I'd want for myself and my family that no other job could do for me. 

You can explain it to her, but she basically self-screened and told you that she can't afford the rent.

Then they only need 7 days for an appraisal and final approval of the loan applied to the selected property.Some other approaches that we have had success with is Driving for Dollars, seeking out as-is properties, and properties that have been on the market for 30 days or more.