Check out Grand Rapids Michigan. 

Going from a $232K purchase to a $575K sale is no small feat, especially with a full excavation of the foundation and reframing involved.I’ve got a buddy who tried something similar outside San Diego last year.. he had to reinforce the entire property with a new slab and rebuild the interior layout from scratch.. definitely not for the faint of heart, but his final sale price turned heads in that local market.

Look for a city in state that is growing rapidly - appreciation comes with that.

I'm headed to Portugal in July and will be there for a couple months to scout some properties.

Just a heads up, there is really no turn-key in real estate.

@Patrik KusekYou hit the nail on the head...

.: I can't wrap my head around it either, but if I had to guess, they're definitely making some money off those crazy high appraisal fees and credit check fees.

And with that again, nail hit squarely on the head. 

As a business, a judge will expect YOU to know all the laws and legal procedures.Make a minor mistake and the judge is unlikely to give you a break and may rule in the tenant's favor.The judge will see the tenant as a consumer and may give them a lot of leeway in court, even give them borderline legal advice.You are in over your head, not having the knowledge to properly handle this.

Kind of marveling, in the back of my head, at how well REI supports retirement income, but not really groking it.