I do not expect this to be my main source of income, but as a way of building my wealth.

BP has been an awesome learning source for me. 

@Mylene Bel, The IRS publications state if you are a non-resident alien and have any US source income you are normally required to file a 1040NR, now there are some trade agreements with certain counties and other variables, but this is why I suggest a Tax expert who specializes in this type work. 

You can get questions answered by the source for free:https://portal.hud.gov/hudportal/HUD?

But it appears you have no money since you say you "have 35k to invest" but the funds you list are all from borrowed sources that would not be in an accepted list unless your family can gift you the funds.

This allows you to gradually get your money back, not have to go to one source, and not have a lone on the property...although you will still have 100% (well, the LLC will), so the LLC can refi down the road if it/you want to.

All comes down to sourcing good deals and putting together a solid team.

I am looking for sources that have very up-to-date current pre-foreclosure information. 

a friend of mine and i are meeting in a few hours to start planning for our first property purchase. we both live in manhattan and are looking to purchase a 4-6 unit residential building in the nyc metro area (most likely an outer borough or nj) to begin buying and holding properties. we are looking for properties that will require work / reparis upfront. what are some important first steps that you would discuss with a partner upon starting up (i.e. financing, partnership structures, deal sourcing, property management, business incorporation, etc etc etc.). my background is in finance, and his is in architecture, and we're friends from college.

I like my career but don't want to rely on it as my sole source of income.