In fact, my first deal in the US I purchased while in Australia (that's the bigger Island in the Pacific), and was a rehab here in Phoenix that needed to be totally gutted and reconfigured.I currently also manage projects for several Australians and a New Zealander of which only two have visited to check on things, but the rest are completely hands off.I know many of the members on here that invest in other states are the same.

One property is in Rhode island, the other will probably be in Massachusetts.It's possible that one of the properties may need some work, and ideally would be able to roll in some of the rehab costs into the mortgage.    

My fiancé and I are thinking about going to Anna Maria Island, Florida in September for our honeymoon.

I wonder if it would have been better to open the wall between the stove/microwave and the dining room and then add an island parallel with the sink and make a large open kitchen dining area.

Hi Ceril,Have a cousin and an uncle of the same name from long island :-).

I am looking to break into the world of home ownership very soon and have a few questions.I currently live rent free (woohoo) at my moms house on Long Island.

I was just quoted $1280 with $2,500 deductible or $1387 with $1000 deductible on a 1983 $110k townhouse on James Island/Charleston.

@William...the current property owner is an investor from Rhode Island who spoke to a real estate agent who told him the property is in the west side of detroit which is better than the east if that helps at all.

This home is on Long Island in good school district on busy road3bdrm 2 bath needs about 10-15k work (full basement as well)price 162k 20% down then rest at 30 years 5.5% fixedtaxes 6400Income will be 1800/monthPlease any input would be appreciated

If they have double that figure once you get the other tenants out.192,000 -115,200 ( 60 % ) = 76,800 NOI once stable and fully rehabbed.At a 10 cap which most rougher areas might trade at a 12 but let's do best case you have 768,000 resale value.If you pay 450,000 and then have 40 units by 5,000 improvements that is 200,000.Resale of 768,000 minus 6% commission 46,080 = 721,920Figure title work , buyer concessions ,etc. maybe you are at 705,000Take 705,000 net minus your 650,000 in you are looking at 55,000 profit and that is IF the buyer isn't asking you to take back a second mortgage of 10 to 15% and then your profit is gone.The key on this deal will be immediate repairs needed and if the area is really rough it won't make a difference how nice you make it the quality tenants will stay away and the new tenants will thrash your rehabbed units again.To me I just don't see this as a deal unless there is land involved but if the area is rough the redevelopment would be weak unless the government was coming in and buying stuff up with grants to revitalize.