To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

There is no current tax on rental income and capital gains.

@Zach Howard there are a few loan types here in the states for foreign nationals, some that require personal income verification and others that do not.

I’ve bought three homes in Arizona since purchasing the lot in North Port and the difference between dealing with Delta and a national builder has been night and day.

I am not sure if I can put zero for capital expenditures, since it is new construction. 

Just like I can't use a loan that most Belgium citizens would use....a "Foreign National" cannot use most loans that US citizens get here either. 

You get a Capitalization Rate (CAP Rate), which equals your annualized return by dividing the Net Operating Income (you had gross in your narrative) by the purchase price.

@Devin James what your missing is that the sociology changes significantly across this nation. 

I would treat this investment capital as temporary, less than one year.

This is the “over night” success that’s taken 20 years.2 - Superior uncommon knowledge, combined with experience and capital and a willingness to take a risk (speculate).