Months had gone by and no work was being done and he kept blaming the city for staling the permit, which I later found out was not true. 

Certain taxpayers may also have to fill out and attach to their return Form 8938, Statement of Foreign Financial Assets.My personal conclusion on investing outside the US is I'd only do it if I were to live where ever the place may be.

Places that used to be on the market for days are now sitting vacant for around 30 days. 

However, you should be cautious buying stuff that no one else did, since there could be a hidden reason why it didn't sell the first time.  

I created BrightInvestor and would be happy to chat about how we go beyond just market research but also help you find the properties well - with free owner phone numbers and sales comps. 

Especially if you have people who know what they are doing!

Wouldn't it be easier?

Sellers and agents often inflate prices based on potential income, but like you said, you want to base your investment on what's actually being produced right now.

Its nice to be here.

This would be my first property in industrial outdoor storage.