I'm an active broker and investor in NYC, let me know if you'd like to connect and chat over the landscape here. 

@Ohad Benjamin we have been doing this method actively for many years.  

. $10k  before capital gains tax sounds like a huge headache - HYSA or some index funds would get that with far less stress I warned them about buying cheap properties and trying to do a renovation from 2000 miles away with no experience.

Personally, I was looking for a second market in Central America, being mostly active in Mexico but I decided to keep my focus on Mexico within the region and clearly that was the right decision to make.

@Conor Kelly,Though I’m not Canadian, I am an active investor in Montgomery, so I can share a few details.The first thing you’ll likely notice is that properties in Montgomery are pretty affordable, even when compared to other markets in Alabama.

I have a client who is actively looking in the area for a vacation destination and STR (fellow BP Member).

We have an active group in Barcelona with whom we meet once a month with events and networking sessions.

For me when I'm estimating rental income I start by looking at the area for active listings <40 days old with similar characteristics to the home you're looking at purchasing (trying to find same bed/bath count, and same amenities like in CO homes with a fenced yard do very well because everyone has a dog).

There's huge liability in PM and guessing can be really expensive and stressful. 

Or for a more active midterm/short term rental?