I've personally driven this neighborhood and was amazed at how nice and clean it is.

Analyzing the neighborhood and the asset condition is the key to projecting accurate returns. 

This is primarily due to two key factors: low inventory (leading to tight margins) and high interest rates.

I'd be happy to provide some recommendations and suggestions for your situation as a foreign citizen living in Miami.First, it's important to have a good understanding of the local real estate market, including pricing trends and neighborhood dynamics.

This means understanding the neighborhoods, pricing trends, and what buyers are looking for.

Low risk property. 

.- Low Interest Rates: Competitive interest rates make property ownership accessible, especially for those with stable income like service members.- Military Presence: With U.S. military bases across Germany, local banks are accustomed to assisting service members with financing.How to Qualify1.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Things are going well so far - I am using Grant Shipman's model (LivingSmith) instead of padsplit, which works great for me.How nice are the neighborhoods you invest in? 

As far as renting, I'd say find a good neighborhood and do good tenant screening.