This will ensure that most of what COULD go wrong gets addressed on the front end so that you don't have to get bogged down with ongoing maintenance judgement calls.If none of these suggestions seem tenable in reducing the brain damage associated with owning property, then owning rental property directly might not be for you. 

If I ever plan to use a family member or friend who may not want to be fully involved in the process - what kind of documents would I need to provide that person that ensures their end is covered and could fully explain numbers, process, timeline, and security for them?

Challenges: It requires you to ensure a profitable exit strategy, as you’ll need to have funds ready at the completion to pay the lender in full.4.

With DSCR loans, the focus is on the property’s cash flow, ensuring that your investment will cover its own expenses and provide a profit.

You might want to include clauses that adjust the split based on performance or time invested.Potential Risks:Market volatility: The Georgian real estate market might be subject to fluctuations.Regulatory changes: Laws regarding short-term rentals or foreign ownership could change.Currency risk: Since you're dealing with EUR in a non-EUR country.Overestimation of Airbnb income: Ensure your projections are conservative.Renovation overruns: Both in time and cost.Partner relationship: Ensure all terms are clearly defined in a written agreement.Regarding the 70% rule, remember that this is typically used for fix-and-flip properties in the US market.

Doing so ensures they've had notice sooner rather than later, and also so they know I'm running a business and not simply enjoying a hobby in real estate.On the other hand, if the tenant doesn't pay the rent when due, the law in Michigan only requires a 3 day notice.

To overcome these challenges, many borrowers focus on building strong communication with lenders, providing clear and detailed exit strategies, and ensuring thorough due diligence on the property.

A minimum of 20% equity is my benchmark, ensuring I dont find myself upsupside down on my investment.Positive Cash Flow by the Conclusion of Year One:I aim for a positive cash flow figure at the end of the first year.

Having a 3rd party servicing company handle these payments can be a way to help ensure payments are made directly to the mortgage company and provide proof to both you and the seller of the property. 

., lease agreement, invoices from March and May, link to the new portal).Set a clear deadline for when you need these items.Send this request via email and certified mail to ensure it’s received and documented.3.