. = $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?.

I'm not sure that there's an easy way to scale an owner financing business anymore just based on the legal landscape.This isn't my area of expertise, so I could be wrong, but I'd do some research there to start...

I hope this is not interpreted as a solisitation I know that is against the rules but I do have a question on my primary residence.I have had problems in the past securing loans because of my lack of W-2 income.  

Every state has rules regarding payment of properties sold at auction.  

And when you start looking and low-dollar properties you can have small dollar amounts making a big shift in cash-on-cash returns.Just for easy math (ignore impracticalities): $70K purchase price means $17,500 down.So you need $1,750 in cash-flow to make your 10% goal.If you get $1,500 it's an 8.5% cash-on-cash return.

This real estate transaction will be reduced to writing in a simple, easy to read contract, so that both parties are legally bound to whatever agreement we have reached.

, I'd say that you qualify.Since you mentioned partners, from my understanding: if you keep the integrity of the partnership (all partners selling will be the same partners buying - and under the same partnership name,) this should be an easy exchange.

Make it easy for me.