But be careful because this is also an opportunity for them to sell you a major B.S. line or try to manipulate the situation.

The sellers have agreed to pay a majority of the closing costs and to fix some vinyl siding that needed to be repaired.

Depending on the location of the property, $100,000 per unit will provide you with a nicer investment, but will probably not cash flow very well unless you plan to purchase in a major metro.

The majority of the value may involve the desirability of the land, not the structure itself.

It is highly unlikely that any other investor will outbid you at a foreclosure auction to acquire the remaining half of the co-owner's half interest in the property -but in the very unlikely event that someone does outbid you, then you'll have recovered the majority of your costs, plus interest and you'll get a new and likely better partner. 

These are the major banks providing loans to foreigners as I checked online.I am planning on spending 1 mil this year in rental properties in US and looking for a lender with a long term relationship who could leverage and extend my property portfolio.

However, I think the majority of people on here, if they went to Excel and used a few analysis formulas, will realize quickly the reason that flipping is so prominent currently is due to the lack of scalability in the real estate market at a certain point (beyond $100,000 homes) the effort vs. reward becomes questionable (not a steadfast/absolute rule, but on average it becomes more questionable...sizable risk vs reward). 

Just as I expected - House got a major face lift, tenants are vetted through my Property Manager.

Just as I expected - House got a major face lift, tenants are vetted through my Property Manager.

They are generally looking for quality properties in major growth markets and strong sponsors.