I apologize for not having 100% pre-rehab pictures.

With an 800 ft deep double lot & a huge barn in disrepair, it had two 3 bed/2 bath units but in pre '70's disrepair.I watched it drop to $69,900 & sell subject to financing which I knew it wouldn't pass.

Me and my girlfriend are currently living in a house that her mother owns but apparently it's in pre-foreclosure.

They will not pre-approve you on the institutional side.

@ArjunPrakashI am not sure about pre-foreclosure list on Zillow.

We've found there are so many sources for funding out there that if you have a good deal the money will likely follow - someone will want to partner with you, or find seller financing, or find a hard money lender who will lend up to 90%, pull out equity in your first home if you can afford it, if you have a retirement account from an old employer, you may be able to roll it to a self-directed IRA that you can use to invest in real estate, etc...Another new one - have you considered renting out the second bedroom if you purchase your friend's house?

As a first investment would I be better off living in as my primary for a year to get the wheels rolling and gain experience? 

I rolled into town one week and bought 5 lots in Wagner terrace and other close in areas and off we went. 

If financing, will you be able to be pre-approved by a US bank while you are overseas?

Because my student loans are so high it's hard to get a loan, and actually I'm having a hard time getting pre-approved for any more then about 70K.