And preferably the screening report (although the tenant has to give you permission to look at this, at least in most states) and some sort of proof of deposit for at least the last month's rent (I haven't always been able to get this). 

So there would be some sort of interest credit in the pay off. 

You can buy bonds for that sort of return

Like yourself, I am a beginner (to real estate investing) and found the same sort of ....basic.... advice, about being careful, and how I should first invest in the US first.

@Lesley Resnick  - the ones you build and place into service - what sort of homes are they? 

I'm not an agent, but my experience living in the area is there were quite a lot of (likely non-conforming) houses with basement units and that sort of thing.

A lot of local banks won't even lend to me because I am an out-of-state investor for some reason they think that I am more accessible if I lived in a state or something to that sort.

However, it will be dependent on the property and what sort of rent you can get for the other units.Hope this helps. 

Do you have a maintenance agreement with a spa service of some sort? 

He can save $10k/yr for 3-5 yrs and end up with $30-50k down payment, but he will probably need a mortgage, which even if he gets a MF and rents out the other units, he will require some sort of income/ credit.