I recommend lining up this with your lender before hand so everyone knows the strategy going into the deal.

I'd recommend flying in Sunday night, viewing all properties Monday and showing up with Cashier's Checks in hand Tuesday. 

Luis, as you know everything is a pain in the *** in PR, and the government has their hand out at every turn. i think some of the issues are that rents are not that high, and finding qualified people are difficult right now, especially when people are not working. it sucks, but its the facts.unfortunately the properties don't appreciate well down there, so you would be buying for a long term cash flow play. 

Hey guys, ive been thinking about this a lot and if anyone has experience with parents handing down a house or taking over your parents' house mortgage please advise.Background: There are 5 people currently in this townhouse and my parents have paid close to half the value so far. ive graduated college debt free and have been working in my field for a year. ive been saving for a down-payment so i can move out into a multi family house and rent one side of it.my father and i had dinner and i threw the idea of taking over his payments so i can build up equity and he can get the house he really wants (ranch style with a pool).

Paid a buddy $150 to excavate by hand for me and help feed the metal.

Or on the other hand, I could say no and bump the rent anyways.

You will be much better prepared to build that killer team for OOS after you have acquired certain knowledge that is best learned hands-on 3) Local provides the potential for owner occupied which has better loan terms (lower down payment and lower rate).  4) Local provides you the best opportunity to be an "expert" on the area.So if I were you I would wait until after I pick where I am going to live before purchasing. 

@Paul JellicoeInterac e-Transfer is the most common electronic payment used by our tenants.  

I am now ready to be an investor and looking forward to get my hands dirty.I hope to find some fellow investors that will help me get my business off the ground.I am here to learn so any advice or tips would be greatly appreciated!

Its still a sellers market so sellers have the upper hand, generally speaking.