A local real estate lawyer or translator can ensure you fully understand the terms and conditions of the purchase.Other Costs to Consider- Closing Costs: In addition to your down payment, expect to pay an additional 8-12% of the property price for:- Notary Fees: Around 1-2% of the purchase price.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

Otherwise, you may need to replace a water service (13-15k), electrical service (10-15k) and upgrade wiring (This is a tough one, but maybe an additional 8-15k inside).

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.

However I believe it’s great to have two independent sets of eyes (in addition to your own) on the books to make sure everything is accounted for and running smoothly.

Additional Resources to check, 'FYIs', in case you want to learn more about rezoning in the future)-Look up your address on the city's zoning map here to see how properties in your immediate vicinity are zoned.

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

If you’re comfortable with a bigger investment, a duplex is good for the benefit of additional cash flow and you could house-hack.

Single mom with two kids. 

What zoning code could I request a zoning variance or rezoning that would allow us to have the 2 livable units on parcel, one primary residence and one additional living unit (known currently as ADU)?

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable.