I estimate we should be able to cash flow ~$400 per month after 10% for Cap Ex, vacancies etc set aside. 

If I stopped the example here, most would say the portfolio of $100k homes is the better investment.Next, let's assume you decide to sell the Market B homes in year 3 because you are frustrated with the cap ex and management of the tenants in the lower tier houses because you are not achieving the expected cash flow.

Of course you know that you can get another job to save money, but my guess is if you get another job-the ex can take you back to court and take some of that too which defeats the purpose. 

I've read a lot of books, talked and networked for years (without ever getting an 'ok' from my ex-spouse to invest in property).

I assume pros are little maintenance, no cap ex for maybe at least a decade, and possible favorable loan terms from developers. 

This can be cap ex to the building's common elements or cosmetic like a new lobby that you as a landlord may not view as a worthwhile investment but the owner occupants may.

This is because they didn’t budget properly and rent wasn’t high enough to cover actual expenses (repairs and maintenance, cap ex, vacancy and loss, tenant damage and turnovers, etc don’t expect to have any money left over after all of these expenses are accounted for if the rent is less than $1,500/month). 

Just getting my feet wet out there over the last three years and its good to see the post and the additional feedback from some really savvy and experienced investors.Built about 10 cabins last year as I talked my ex brother in law into moving out there two years ago and getting our gc license. 

There are a huge amount of US ex pats here no need to really learn Portuguese etc etc. 

Add maintenance/cap ex, vacancy, PM, misc and this is likely negative more than $500/month even if self managed (much more than the negative $200 that you indicate you are ok with) 2) if you are behind on mortgage, how are you going to handle being negative $200/month, or more like negative $500/month?