The majority of the value may involve the desirability of the land, not the structure itself.

It is highly unlikely that any other investor will outbid you at a foreclosure auction to acquire the remaining half of the co-owner's half interest in the property -but in the very unlikely event that someone does outbid you, then you'll have recovered the majority of your costs, plus interest and you'll get a new and likely better partner. 

These are the major banks providing loans to foreigners as I checked online.I am planning on spending 1 mil this year in rental properties in US and looking for a lender with a long term relationship who could leverage and extend my property portfolio.

However, I think the majority of people on here, if they went to Excel and used a few analysis formulas, will realize quickly the reason that flipping is so prominent currently is due to the lack of scalability in the real estate market at a certain point (beyond $100,000 homes) the effort vs. reward becomes questionable (not a steadfast/absolute rule, but on average it becomes more questionable...sizable risk vs reward). 

Just as I expected - House got a major face lift, tenants are vetted through my Property Manager.

Just as I expected - House got a major face lift, tenants are vetted through my Property Manager.

They are generally looking for quality properties in major growth markets and strong sponsors. 

It really makes sense on commercial properties with acquisition price in excess of $500,000 and some to major rehab having been done.

So far the out of state aspect hasn't been an issue for me, then again I own two properties in the FAY area and have lived there the majority of my career (just moved to TX last summer).

It looks like the last major update was in the 90s.A lot of the things you've done don't necessarily create a 1:1 increase in value.