You would not be able to be classified as "materially participating" under what you propose, you must meet a couple of criteria to be considered including 100hrs+ spent on the business and more time than anyone else.

What we get out of that is lower turn-over, and (hopefully) a little respect from our tenants.With that said, I think the more important question is: How long is one of our rentals empty when it does turn over?  

It is important that you hire professionals who have experience working with foreign investors.

I am risk averse and if I were to purchase, I would tear down to the studs and do a full rehab {this would include getting rid of asbestos shingles and insulation).1) I have done a ton of research and it appears as if getting rid of asbestos is very DIY able assuming you spend money on the safety equipment and use it properly. 

I’m getting ready to leave at the end of the month and my mail forwarding service gets a letter from the town which I have a feeling is important so I overnight ship it to myself.

The closing costs will be more important on the purchase side.

Also - very important - check the foreclosures laws in your state.

Location /neighborhood are the most important aspects of an investment of course but my point is choose the market where you feel you have the strongest team around you and best boots on the ground.

My partner and I use the subject to language from the AIR CRE forms as an addendum to the REPC - UtahSubject to language for purchase offer - Utah REPCBuyer(s) shall take title to the Property subject to the following existing deed(s) of trust securing the existing promissory note(s):(i) An Existing Note (“First Note”) with an unpaid balance as of the Closing of approximately:Said First Note is payable at $_____________ per month,Including interest at the rate of _________ per annum until paid (and/or the entire unpaid balance is due on ___________ (date).

Sellers have different strategies on setting their listing price including listing below market price to create interest.