You could live in one unit and rent out the others to offset your mortgage, staying within your $4,500/month affordability limit.

He will live there and watch over the three teak locations and animals.Got the site and pad ready. 

Your goals will define the route you take on this but building a list for buyers/investors is a time-intensive activity and the list is a living and breathing document.

Do you live in that area?

If your tenant starts a kitchen fire and the insurance provider finds out it was a rental, they will deny your claim.Landlord insurance still covers the property, but won't cover your personal belongings since you live elsewhere.

I am also an Italian citizen, I lived there for a while, so I know the place and my family lives nearby.House prices are also lower in the areas I invest in comparison to Munich where I live.

The notice may be delivered in the following ways: Personally handing the Notice to the TenantGiving the Notice to someone who is at least 13 years old and who is at the Tenant's home Mail the Notice by Certified Mail with a Return Receipt from the TenantLeaving the Notice on the Ground in front of the Tenant if they refuse to accept itPosting the Notice of the door of the premises if nobody is living thereCounting the Notice Period.

So...where do you want to live? 

Buy a 2-4 unit property with an FHA loan (3.5% down), live in one unit, and rent out the others.

Last thing to look at (and right out of the pages of our client's own experiences) might be starting a transition of wealth in the form of using 1031 strategically to purchase property that your heirs live in until you pass and they inherit.