There's nothing specific to real estate investing in RI that makes RI investors use any rules of thumb or analysis different from real estate investing in other areas of the country.

I have seen that play over and over in these D class areas of the country... its a specialty and a skill to own and manage them and get them to actually produce income.. with 14 doors in one spot in a D class area you will probably have one eviction going at ALL times .. so think it through there is a reason these properties end up like this.. and many times its not the owner its the demographic and tenant base that is basically unmanageable.If the above is something you can do.. then it seems like a pretty decent deal. what I did in the 80's when RE was dog tough.. 18% interest rates..

If money leaves the country into another country, re-patronization taxes do occur.

(I live out of country). 

I am currently flipping homes in Orange County and just purchased a home at the court house steps.  

You may win in court, but it may cost you 30k to do so.

I have a client who recently went through hardship of getting rid of long-term tenant through the court, so maybe this experience will be helpful to you.

Saying if they don't pay me within 30 days of due date take them to court and they owe me price of home that we agreed on.

Sometimes I will ask if they can help with financing, but I am not too pushy.Getting the right deal that makes money is like courting a lady, take it slow and easily. 

Originally posted by Jeff Beard:See you are in California too, and you need to look up and understand Community Property law in this state.Regardless of how the the title is registered, whatever the husband owns, the wife has 50% interest in and conversely, so your goal dies before you get started with this attempt.That's probably 100% spot on for divorce court,  but not for mortgages in our state.