There is development potential in the property so you are land banking.  

Keystone Investors (Minimum investment 50k) get 8% on their investments during the development period from July 1st, 2018 to July 1st, 2019.

But in this case, since we will only be needing the property and tearing down the home what do we use to: 1. come up with comps  2. develop my repair estimates.My guess is that I need to find other older properties that have been bought, torn down and turned into multi-property homes in the area...Any help would be greatly appreciated!

There are a lot of factors to consider. 

One of my favorite quotes by Jim Rohn is, "Your level of success will seldom exceed your level of personal development". 

There is zero impact on how much cash flow your equity is buying.The bottom line, and most important factor, is not how much cash flow your equity buys but how much cash flow the property itself generates without equity.

Think about the advantage of being on the opposite schedule from America, with a local partner to cover business hours you could utilize the time where your competitors are sleeping, that would be an asset factor in my opinion.Best,

Hang out here and join the local LL association, go to meetings and develop a network there and here.

Access is always an important factor too. 

Let me check on this with a developer.