Tenant security deposits are typically held in a separate trust account although many states allow them to be held in the same aforementioned trust account as the rents.You would always be required to hold some minimum amount of money in the account for maintenance reserves, etc.This stuff where you setup the account with them as trustee is completely foreign to me and just adds unnecessary complexity.

The idea of international money wires, dealing with exchange rates, foreign taxes, ownership in foreign companies and the like gives me the willies.I don't think you're going to find a lot of interest or support for the idea.If you're interest is financing or equity stakes in SA, I would think finding international investors would come first, people familiar and comfortable with doing all that is necessary, then find those willing to back you in real estate ventures would come second.

I'd be careful of those that only sell to cash buyers (especially to foreign nationals that don't know values) or don't accept appraisal contingencies.

You also don't have any restrictions as a foreigner for buying real estate here. 

@Dan RaphaelThat is helpful and I have rented to active military as well as foreign military.

I think you might be able to get faculty or maybe foreign students.

I am a foreign investor and tried to buy from them as well and luckily got "fired" even before we got the first property under contract.

Being a foreign national, I realise that there is some red tape that I need to overcome; 1) Such as creating a bank account (which I read only two banks offer to create accounts for foreign nationals and I must come to America to create it).     1.1) I've also read that I should open a business account to pay less taxes.

If you do file in NY, you should also submit a "foreign" filing here in Ohio. 

They have great tax incentives for foreign investors, and rental rates are through the roof.If you're looking for more info about Belize, I would check out the Vision Properties Belize website.