There is a local area near me that has a strong job market and average population (relative to surrounding areas), but the home prices are selling at a de-valued figure.

Leadership changes.So, not only are you subject to currency fluctuations, but you're also at the whim of a government that may change the rules to suit their convenience (like Cristina Fernández de Kirchner in Argentina attempted to drastically raise taxes on farms to make up for a budget shortfall) or even completely change (Egypt, Tunsia, and I'm pretty sure we've not seen the last of that.)The countries you mention are more stable, but all have various issues.

De-clutter.

The original interior paint was Dunn Edwards cottage white, 15 years ago.Home Depot is a lot cheaper than DE, is the paint color going to be the same?

I now have 5 properties in the Philly: Delaware County area.

Something that you might consider to avoid the California franchise tax legally, instead of an LLC, is the use of a Delaware Statutory Trust.

@Chris OligeeBanks use delaware for their foreclosures.

I have heard of a new Delaware statutory trust that is very good but have not found the time to read up on it. 

I've already readComplete Guide to Investing in RentalsProperty LadderThe ABC's of REIAutomatic Millionaire HomeownerRich Dad Poor DadAdvanced Guide to REIFind it, Fix it, Flip itThe REI's Pocket CalculatorHow to Buy Foreclosed RERE Riches (audio CD) - Dolf De RoosMulti Family Millions - LindahlEmerging Markets - LindahlWhat do you guys recommend?

I think the low income landlord have a bigger role to play - they a obligated, as de facto leaders, to take on issues associated with low income communities.