Depending on the property type, I am seeing that they typically they have to put up twice the net worth and twice the liquidity to qualify as an American investor.  

Invest some time along with your money to drive around, check out the addresses yourself, and flag properties that look more likely than others. 

Ultimately, the properties would be in my name while he would be the one finding the deals and doing most of the work as he mentors me.Is there any red flags that are visible in this type of partnership?  

LA county flagged 13,500 apartments that need to be retrofitted for seismic strengthening.  

We are looking at them again now, along with Colony American and B2R because we are now ready to do cash out refinance on several more properties that we have acquired over the past year.

They will have a third party inspection who, if smart, will flag it as 5 unit not 4.

@Aaron SigmonYou planted your flag in the right place before the rest came calling. 

I don't know anything about the American real estate market, but in Israel real estate is one of the best investments as we are a small country and rent here can be pretty expensive - and still 10% return a year is considered a good return - but 50%?

Do not give the clerk your address they can flag it as a possible site for investigation.

OPEN a refi escrow with a local escrow company like First American or Chicago or Fidelity etc.. and then read your Preliminary title report.. that will tell you exactly how this is all set up.