., accounting, maintenance, construction/rehab, etc) and decide which role(s) you want to take on and which you will hire out.After that it may should become more clear the kind of opportunity you should be looking for.

Account Closed I went to ISU and would love to attend your meetings. 

Account ClosedThis is a tough question to answer without knowing all the facts.Where is the foreign investor's home country.You may need to look at the treaty between the US and his country to see if there is any exception.You should also be aware that there may be increased withholding at closing because of dealing with a foreign investor.Furthermore, the income may be considered "effectively connected income" requiring w/h in behalf of the foreign party.

Right now, income and expenses are coming out of one account for both properties.

How many times people say they don't trust bank accounts.

It will be a complicated process unless you are ready to start construction because of permits soil studies etc. 

Account Closed I just sent you a message.

Also the money has to be seasoned, meaning in your account for at least 3 months before being able to use it.

There would be no refinance in this situation since there was no original financing to begin with.As for the credit cards, to get a single card with a 20k or more limit would be based on your credit history, but American Express has been known to be generous with initial limits and credit limit increases after 60 days of opening the account and then 6 months again after that.

I would say that your going to want at least $10,000 in reserve in case you have to make a major repair, have to pay the mortgage if not all the rooms get rented, and expenses you didn't account for.