It’s not cheap so if you’re looking for that go learn the hard way like I did.

The fines/penalties are also not cheap either.

Doesn't Germany suffer some economical problems as well and would it be cheap to do it now?

My clients from California are able to find deals with positive cashflow and meet the 1% rule at a cheap price point - $120k-$180k.

Have you asked yourself WHY are the properties so cheap?

While I support hiring a professional PM (not a cheap one), you verbally hired her and she is already doing work for you..If I were in your situation I would call her, explain the situation, apologize for walking back my agreement, compensate her for what she has done so far and hire a good PM.

It's all great advice above, but I wanted to add a recommendation that I don't see as often: don't go cheap on your washer and dryer.Nobody wants to work 12+ hours and then go home and fight a tiny washer and a slow dryer.

***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?

I listened to too many people saying they don't raise rents on good tenants, including a few of my California friends who have kept the same rent for 10 years, their reasoning being I bought the property cheap in 2008.

And I also don't throw all of my money into a single vintage year.