Of course in most major cities in Texas buying these before and during foreclosure is dominated by a few big $$$ players

London, like most major cities, is in its own bubble.

Flipping in most major markets, definitely...

It "would be nice", but it's cost-prohibitive.There's a reason why schools like Harvard (and most major Universities) publish their success data, and places like trade-schools and Renatus don't. 

For example, I acquired a property in Phoenix to fund my purchase of a vacation home up north to escape the heat.I'll buy another property to afford my tricked-out WRX STI in the future, and a third one so I can take a European vacation every year with my family.I agree with your decision, but consider rewarding yourself again once you have more comfortable cash flow and there are more predictable signs of the direction of the economy and REI legeslature. 

I must say that I am a property investor that invests in European real estate market.

We are at a far greater risk from the European debt crisis.  

I once built a house with $10 k European refrigerators.

Check the price action of European banks.  

Most major renter’s insurance carriers have policies that will have at least the basics covered, but definitely have your tenant get a few different quotes and do some cross-product analysis.