Next, you should have sufficient insurance of the appropriate type.Managing the property takes more than a wink and a smile. 

This is the main reason finished living space in the basement usually does not pay - it is pretty much never worth what above-grade space is, the exception being a home built into a hill where the house is designed around the feature, and half the basement is exposed anyways.While improper slope around the house can lead to water in the basement, the really expensive problems come from shifting, which almost always occur from the lack of appropriate back-fill, the presence of clay, and the fact that the clay absorbs the most water and therefore expands the most during the freeze.

Sellers put a lot-of-love in this one rehabilitated home.

Would it be appropriate to ask to follow/tag along on some of his rehabs/developments?

Greetings! I'm trying to determine how successful my house hack has been. Even if its not a big win, it has been a hair pulling, daily crying jag, killing the GC dream inducing, learn the hard way, LEARNING experience...

Look and see if it is eligible for historic tax credits at the State or Federal level...they offer incentives for rehabilitating certain older properties5.

You have to first set up a US entity (need to have an entity specialist tell you which one is appropriate for your country) and then a US bank account.

Feel free to reach out, I'm happy to help out where appropriate, done 75 deals, lost it all and clawing my way back now......

If they are month to month then you need to give appropriate notice before changing the lease. 

Screen your tenants wisely, set rent appropriately, raise it every 12 months.