If you have questions on getting an equity partner or what numbers are needed please tag me in a specific set of questions and I will respond. 

They tend to have the perfect personalities and skill set for dealing with bad tenants.

You can either enforce your lease or let the tenant know that you wont enforce your rules and hope for the best when they break other provisions in the lease....your choice.The middle ground is to let the tenant know that she is in violation of the lease and this is grounds for eviction if the issue is not corrected..... you will not enforce that provision if he goes through the standard tenant screen and is placed on the lease.These are small issues and not worth making a huge issue out of, BUT they set the precedent on how tough you run your properties....are you a pushover or are you someone to not try and take advantage of..... how you approach this situation may have future impact on other things that come up.If this is a good tenant, in a nice property and there aren't any issues, I wouldn't make a big deal out of it, but I would not just ignore the fact that she is breaking a provision in the lease...that gives them the impression that they can do whatever they want

However i'm not a resident or citizen of the USA so would this be possible through setting up an LLC and still living abroad and doing any related work remotely, or would an E2 visa be the best option. or would it not be possible at all?

I would suggest you set up a website also with a nice clean simple landing page to generate leads.Then you can direct your Facebook Ads or Google Adwords campaigns there and it also ads credibility.Twitter and Instagram both have paid marketing tools as well that you can utilize to build an online presence.

Probably not, considering that 10 years ago it was the worse economic crisis in at least 70 years since the Great Depression.BUT, if those who did not understand that it was a FANTASTIC time to invest once the crisis was over, even if the same thing occurs, their risk intolerance will probably steer them to the investments that won't appreciate the most, and that is unfortunate.This is really about education in the long run.People have to add to their inventory of skill sets for an investor the ability to calculate and understand appreciation and other future values.It's the only way to get used to the psychology that things change in the future and where you buy can either capture that change if it's good, or avoid it if it is not.I just can't believe people make a decision on an Investment based on one single calculation for today, usually the Cash on Cash Return, and then completely ignore all future economics.That's like the squirrel that doesn't bother saving his nuts for the winter because he has a lot around in the fall when they dropped off the trees.Good thing squirrels can think about the future value of saving his nuts!

If its a new unit, then you can get away with your cap ex budget but if not then make sure you have some other $$ set aside for things to go wrong. 

In addition , I want to set myself up to be able to buy another rental down the road.

I've been reading up on a lot of the other posts but still have no conclusive answer.The property I have obtained is a 3 bedroom 1.5 bath hoping to rent it out for $1,200 a month so what type of clauses are typically set for this type of property?

I am hoping to get some guidance on my current revenue/expense assumptions:Rent / Purchase Price -> 1.0% to 1.1% (model set-up for varying ranges)Vacancy Rate -> 0 to 10% (model set-up for varying ranges) Property Tax -> ~2.5% (looking at Tarrant County property site for reference)Insurance -> ~0.9% (based on my personal residence)Property Mgmt.