The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know. 

I am looking to connect with the investors there as the promotors are continuing to take Asset Management fees to the tune of $450K a year (on top of PM fees) even when their payout to the investors is around $20K a quarter (not meeting preferred) and the overall fund is negative about $450K.

It's been great - the property is 100% paid off and the house is worth 300-340k generating approx $2300/mo (that's after utilities/management fees etc.)I'm considering selling the property to buy 3 more within the same price range in the same market. 

* What are some factors to consider when identifying these hot spots?

.: For me it was at total for $13,000 for first year set up with filing fees, registered agent etc.

Here's what you need to know about qualifying and managing costs, including realtor fees and other expenses.Why Germany?

Any other fees such as close out fees or payoff demands are paid out on the back end when your loan is refinanced or paid off.

But in most cases the title co will reach out to a notary closer and add their fee to the closing stmt.   

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

There is the inconvenience factor but it might be cheaper for you and your friends as well.