Yes, there are some gangs there; Yes, there are squatters living in vacant homes; Yes, you can buy drugs and Yes, everything will get stolen if you don't have a way to protect it.

It specifically listed out that the credit check fee and the administrative fees were "nonrefundable".

@Joshua DaviesA lot of wealthy foreign individuals become shareholders in a Corporation who ultimately invests in the partnership fund.example.Joshua Davies, LLC has 2 memebrs in his LLC; Joshua Davies and International Corp, IncThe shareholders in International Corp, Inc. are International Investor 1 and International Investor 2.When money is distributed by the Corporation to the investor - it is no longer rental income; it is dividend income.The Partnership is now not required to withhold or file form 1042 since the member is not a foreign partner.The international investors avoid having to file a US tax return because they are receiving dividend income instead of "rental income"There are some pros/cons associated with this approach.Possibly more administrative costs(registering of corp), filing of corporate tax return etc.however, many foreign investors like this approach.

It was a total slum - drug dealers, cockroaches, etc. 

Go to a office supply store and get a generic lease, or have an attorney draw one up for you. along with addendum's for pets, crime free/ drug free, lead, security deposit agreement.After you look at some lease samples you'll have a better idea of what is best for your property and you, so your in compliance with state laws.

Sure, first step be born in AmericaSecond, don't make any egregiously terrible mistakes in your childhood and young adulthood (prison, drug addictions, outrageous debt) Third, take reasonable risk in areas and industries that are in growthFourth, don't expect it to be SUPER fast (1-3 years) For centuries social mobility was just not a possibility.

Best area to buy - wherever you can afford it, there is demand for renters, and people aren't slinging drugs/getting shot2.

When you start a flip you 1:setup a new account2:create categories (ie, kitchen, bath, plumbing, landscaping, etc, etc)3: as you make purchases take pictures of the receipts via the phone app and choose the category 4: via the web browser (computer) portal you the administrator can go through and verify all the incoming receipts5: then you can create reports showing who's spending how much on what very easily

The commission may impose a civil penalty of no more than five thousand dollars upon any unlicensed person who, after a hearing or informal resolution in accordance with all provisions of this Chapter and the Administrative Procedure Act, is found to have engaged in real estate activity without the benefit of a currently valid license having been issued by the commission pursuant to the provisions of this Chapter.

Depending on the building and it's administration, you will want to make sure it's kosher with them as well, in writing if possible.