Unfortunately, like all things real estate, it depends.

Hi Patrick,It depends on the type of investor.

Account Closed I'd recommend talking to a CPA who is familiar with Form 3115 and foreign real estate as it appears yours may not be, or depending on the specifics of the property having a cost segregation study done.

Depending on your goals and income needs, many investors use their self-directed IRA's and 401(k)'s to invest in real estate or notes.

That cost can be from $500-$2000 depending on how difficult the situation and if it goes beyond one appeal. 

I can see about a dozen fairly simple improvements to make the building far more appealing, depending on your budget.

I am unsure as to where you are located, so 50k can get you multiple down payments or one depending on where you live.

Again, these are all dependent on your ability to qualify.

@Max Householder Thanks @Philip i would love to help depending on where there located. 

@MariaIts great that you have a private bathroom for the guest.I would certainly do a rental agreement (independently of what portal you will use).Re: background It all depends on your comfortable level.