@Eric Fichera Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

I don't see that you've looked at historical financials.

This way, you stay disciplined about your future while making space for present enjoyment.You can also adopt a mindset shift by focusing on experiences over material things, as experiences tend to offer lasting satisfaction without derailing your financial goals.

The good news is that the financial metrics you've read about are universal and not at all country specific.The bad news is that Germany may just not be a good cash-flow market, compared to the U.S.But then, few markets are.That's why you find so many Germans and Australians and Spaniards and others trying so hard to find great deals in the U.S.And, even in the States, there are plenty of sub-markets where properties routinely fail the so-called "1% rule."

Understand you're in for a long awful emotional, physical, financial and mental journey.

Both from a financial and time standpoint.  

To your original question Karen, as private lenders you are going to get deals where borrowers have low credit scores or are in tricky financial situations.

I'm not familiar with your market but the faster you can start paying your own mortgage rather than someone else's you're one step closer to the long-term goal of financial freedom. 

After a couple of years organizing my personal finances and financial literacy, my goal this year is to finish the year in my own home and have 1 rental property.

Plus, it gives you peace of mind knowing you won’t be financially liable if something goes wrong.Make Sure You’re Covered TooSpeaking of insurance, don’t forget about yourself!