I have my eye on a nice 9 unit building but my partner is saying that with the European debt crisis there might be better buying opportunities in the months to come.

We will end up looking more like some of the European countries if it continues.

Even European upscale and U.S. are sort of the same overall look.

Check out European Hostel set ups. 

Europeans by and large rent because property is expensive.

Instead we compete with Chinese, Russian, Australian, and European investors on a daily basis.

Yes they're on Western European Time to avoid all the wreckage they left behind in the US.

What most on these forums truly don't understand is how the United States is shifting to a more European cycle of where people live and work and we're not going back to urban sprawl.  

If you decide to put more cash into it, make sure you don't overspend as sometimes the neighborhood's average price/condition/demographics doesn't look good for a brand new gutted property with marble floors and European light fixtures.

My preference in European touristy places is almost always to stay at small, family-run urban hotels with less than twenty rooms and not ratings whatsoever, with family staffing it.