With down payments as low as 5-10%, plus low property taxes compared to the U.S., investing in German real estate is more accessible than you might think.If you’ve ever thought about owning property overseas but felt intimidated, stay tuned.

I would stay out of really rough areas in expensive cities because those are risky and can be management headaches.

With a fideicomiso, the gross income is taxed through a withholding tax whereas, with the corporation, the rate, you can deduct expenses but the taxation rate is higher.

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

To make taxes easier we set up a business checking account and had all the rent paid into that account and all the expenses paid out of that account.

Getting a mother-in-low to co-sign is not the answer.

I suspect using 100% expense ratio would be too aggressive especially if PM is charging 15%+.  

When you charge under market rent, the IRS deems that you do not have a profit motive and, therefore, disallows all rental expenses. 

Quote from @Patricia Steiner: There are several lenders who offer low/no closing cost options for first time homebuyers.

Expect them to be expensive, also.