It seems like $300-700 is possible or even typical which has given me pause.

Some things give me pause when researching the US for vacation renting like HOAs, stricter laws, and also the fact that some neighbourhoods in the US with good deals are super high crime ghettos from what I can tell.  

But getting into a $42k property with super low property taxes and a high ROI just seems so tempting.Of course, after reading this thread, it's giving me pause.

That concept takes it to the extreme.Two things that would give me pause. 1) They don't say how big those houses are and I've read that the 'tiny house' concept was big during the great depression as well and then when times got better everyone actually wanted more space.

Part of the reason I want the freedom with my time is the ability to put everything on pause and go surf when the swell rolls in. 

You can always pause for 6-18 months then continue buying. 

@Edward DandreaI know this depends on specific markets, but buy 8%+ CAP brings me pause.

(Moody’s)- Foreclosures and Bankruptcies Remain Low: Be wary of numbers like 700% increase, that’s because they were paused during COVID.

Already some well-known ones have paused or cancelled dividends or issued capital calls for large property tax increases, deferred capex they thought they would avoid by selling out before it hit, and so forth.

You are not anywhere near ready to buy , PLEASE PAUSE, show the deal to US, or a local, get feedback before you way overpay, I know the market from there - Miami, and Naples- Tarpon Springs, ALL way overpriced,