We'd love to escape the cold Dutch winters and enjoy a warmer climate.When we're not using the property, we plan to rent it out as an Airbnb to generate passive income.

What this implies to the typical RE investor is obtaining significant cash flow is a big challenge right now and relying on other RE profit sources (such as a value add and not doing a value subtract) may be a more certain path of generating returns.  

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

.: Quote from @Basit Siddiqi: I think it lies in that a lot of service providers in the real estate space are incentivized(money wise) to promote thier business.Real Estate agents are a small business, the more clients they have, the more money they make.Property managers are a small business, the more clients they have, the more money they make.Lenders, correct me if im wrong, are tied to some sort of bonus structure, the more loans they generate, the more money they make.More promotion leads to more awareness which leads to more money With all do respect I think REA's are commissioned sales people.

It is already renovated, tenant-occupied (or ready for tenants), and generating income from day one.

I am glad you highlighted the management piece as this is a crucial part of buying in another market.Excited that you are stabilized and are generating cash flow on that deal. 

Do you have a current need for that cash flow generated from the tax savings?

Your ability to identify properties and markets where you can generate equity (both imputed and appreciated) while using debt responsibly and knowing when is most appropriate to sell is how you acquire more real estate. 

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

They generate about $300k in rent, I get to keep about $250k of that in cashflow.