@Arthur MayerHi Arthur, I run calculations for each exit or mitigation path, i.e., foreclosure, DIL, reinstatement, short sale, and modification (the latter two based on what you are willing to accept/offer).  

I have a few questions about renting out a property in another country.

It was not my path, but certainly makes sense when funds and credit are in short supply.

I told her I would no longer be continuing with my offer.About 2 months later she emailed me and said the sellers were desperate to sell as the husband had cancer and they had to return to their home country. 

Except from contractual payments, i have to put 15-20 k usd for interior/decor/furniture and i will be able to rent property 1 for around 700-1000 usd/ mon, and latter for 350-400usd/ mon.Tought thing is that our country is facing cash shortage, property prices going down, local currency (som) ex rate falling, and people are unsure about the future economic situation.

If quitting your job is the goal (i.e. can't stand it, I want to work in real estate), then there are faster paths than income properties.Replicating your W2 income with rental income takes a long time.

@ Karen MusselmanI believe Reading, was just listed as one of the 10 most depressed real estate markets in the country, sad stuff.

Has anyone went this path with an investment property and what is your thoughts?

To buy real estate in other countries, are the expectations the same (credit, money down).

There are many paths through that forest, the wealth is on the other side.