This provided a substantial return on the initial investment and freed up capital for future projects.Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender•Appraised Value: $160,700•Monthly Rent: $2,150•Cash-Out Refinance: $3,200 after paying off private lender and myself•Rate and Term Refinance: 30 yr amortization, 7.25% interest, 70% LTV•DSCR: 1.45%Here's the breakdown of rental income and expense analysis:1.Annual Gross Income: $25,800 (Monthly rent of $2,150 x 12)2.Annual Expenses: $25,800 * 0.40 = $10,3203.Annual NOI: $25,800 - $10,320 = $15,4804.Annual Debt Service: $10,680 (Calculated previously using a mortgage calculator with a loan of $131,775, 7.25% interest, and a 30-year term)5.DSCR: $15,480 / $10,680 = 1.45 (approximately)With a 40% expense ratio, the DSCR is approximately 1.45.

That’s the mindset of someone who’s building for the future.

I have had around 100 stays (~35 with the current cleaning company) and no complaints about cleanliness ever, but in the event that there is an issue in the future, I can see how having pictures to confirm or dispute the guests complaints could be of value.

The land we are buying also has secondary value to future expats moving there.  

The type of information needed depends on if the building is being constructed in the future or if the building already exists.

Mind you, with mortgage interest rates in the US being so much higher now (and seemingly for the foreseeable future), I wouldn't be surprised if LTRs in Europe would cash flow better than in the whole US nowadays (to be verified).This being said, I don't and would never invest in LT rentals outside of North America  as I wouldn't want to face unfavourable landlord/tenant laws as a foreigner.

In my case I sold off appreciated properties in a location I deemed as having limited future upside, and used the proceeds to eliminate all debt on the better located prime properties I wanted to keep long term.

Nowadays many vacation homes are priced as STR businesses with profits baked into the price (with future guests expecting instagram furnishings).  

Seems to me that area is massively over build or going to be overbuilt for the foreseeable future..

Given the demographic of unbanked and underbanked population, the demand for cash will not go away in foreseeable future.