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We investigate the achievable rate of receive antenna selection MIMO systems in the presence of mutual coupling and spatial correlation. For that, we assume the antenna array to consist of dipole antennas placed side-by-side in a linear pattern and in a very limited physical space. In a first step, we will assume perfect channel state information at the receiver side only and a negligible training overhead compared with the payload. We will demonstrate that in contrast to what might be expected based on results for cases without mutual coupling, MIMO receive antenna selection can achieve higher data rates than the system using all antennas provided that the total number of receive antennas is larger than a critical value that we will further discuss. We then propose an optimal antenna selection processing that ensures rate maximization regardless of the number of antennas used. In a later step, we will address the impact of training overhead on the system achievable rate when the training overhead is considerable. We will show that such a rate is reduced dramatically due to the large amount of training overhead arising from the presence of mutual coupling. To overcome this problem, we will thus propose a novel channel estimation method, which reduces the training overhead greatly and improves the system achievable rate performance.