That is a dumb *** idea.  1st rule: Don't be a Dick.Besides that, while I am only licensed in Texas and not Virginia, I can be almost certain that your idea is PROHIBITED under your state's property statutes. 

Appreciation, cash-flowing rentals, easy to find management, etc?

This is something fairly easy to do yourself.

If a fuse blows and a spare isn't readily available it's all too easy for a tenant to stick something like a penny or piece of pipe in the panel and create a fire hazard.

5) Do you guys have any number rule on multifamily properties, like the cap rate must be at least this or something like that?

@Kyle Wenger, we like to refinish hardwood floors whenever possible because the are so easy to clean between tenants.

There are a lot of opportunities for the easy flips to get you started.  

. = $5510% MGT fee = $110Mortgage = $253, 20 year amortization @ 5% Taxes $116 per moInsurance $75 per mo total = $719 per mo2% rule = 2.20%Capex = 15%CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment) The duplex does only have 1 furnace and 1 water heaterMonthly cash flow = $381 Am I missing anything? 

I spoke with my lender and he told me FHA recently changed their rules...he said if I already own property then I can't get an FHA loan for a primary residence (even if I have 20% equity in the rental properties).

I saw many deals in and around Michigan for 65-85K that would return 800 USD a month or about $1100 a month where I am from.It's easy to see that if I sank 250-350k jn the states I could easily get 5 - 7 deals maybe more If I wholesaled the deals myself I'm seeking honest feedback, Is it a realistic dream to build a portfolio in the USA (Midwest) and combine with 2 yearly inspection trips and maintain a tight communication with people on the ground while living overseas?.