Then if the 2nd deal is a different type and needed to be held in a different company - then set up your 2nd company.You can set up the companies yourself at the local consumer affairs office or you can pay a paralegal to set them up with all of the proper binders that you will need in the future.  

If the drains are cast iron it is more of an ordeal to move, but still possible.

All the above will be a real PITA and time consuming.

The point is STRIKE WHILE THE IRON IS HOT.

Never really sold internationally, I can see all kinds of time consuming issues, hope they speak english too.

In northern California there was a mine, Iron Mountain Mine, it was one of the worst clean up disasters in the country, and part of the Superfund properties.

RESPA is a federal law that helps protect consumers from unfair practices by settlement service providers during the home-buying and loan process."

Because I have mortgage debt I pay monthly, plus maintenance (primary residence is a co-op), but I have no consumer debt.

With that being said, I think you should decide how involved you want to be involved in real estate investing (Rehabbing a old distressed property is definitely more time consuming than purchasing new construction property, especially if you have no experience rehabbing houses)  I think the 3 biggest factors for you should be.1.

It is a lousy rental in my opinion.When it is fixed up, how much could it sell for to an end consumer?