It is much better to have a reserve fund and add it monthly.

I've seen some people house hack a single family home by renting out the rooms, but keep in mind that traditional lenders would not be able to use the income from renting out the rooms (known as boarder income) towards additional income on the application.

We're based in Tampa and, in addition to personally investing, I own a mortgage company that provides financing for tons of investors.

Yes this method only works if #1 You make more money than you spend#2  You are willing to spend less than you make.#3  it works because people don't have discipline to pay their mortgage beyond the minimum.  

The family viewed the house, loved it, and requested that I install satellite TV and add it to the costs, which I did.

A local real estate lawyer or translator can ensure you fully understand the terms and conditions of the purchase.Other Costs to Consider- Closing Costs: In addition to your down payment, expect to pay an additional 8-12% of the property price for:- Notary Fees: Around 1-2% of the purchase price.- Property Transfer Tax (Grunderwerbsteuer): 3.5-6.5%, depending on the region- Land Registration Fees: Approximately 0.5-1.5%.- Realtor Fees: As mentioned, these range from 3-7% of the purchase price, plus VAT.Benefits for Service Members- Equity Building: Owning property builds equity over time, providing long-term financial security.- Strong Rental Potential: If reassigned, you can rent the property out in Germany high-demand rental market.- Tax Advantages: Germany offers tax deductions for property owners, which can help offset some costs.Key TakeawaysService members have a unique opportunity to buy property in Germany with minimal upfront costs.

If you can't manage what you currently have, you won't manage additional income from investments.

Electing disregarded entity status avoids additional filings while achieving the same tax outcome.This post does not create a CPA-Client relationship.

This is an additional step that would not be present for developing a lot where you are adding value.  

Give them a 60-day notice, then charge them a prorated rent for the additional 20-day extension.