@Serge Hounkponou Recommend you first figure out the property Class you want to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

Multiple investors with decades of experience, some GP, some LP, some skeptics about the entire business in general sense and some bulls who have gotten rich from investing have all chimed in on this you got links to specific case studies from Brian Burke, a seasoned syndicator, a guy check from Melanie p, who makes it a part time job taking the trash out and exposing the shenanigans of one syndicator after another.Greg Scott has an excellent reputation on these forums, and provides a counterpoint to Melanie’s skepticism.

You'll have tenants that don't pay, damages made, and potentially other disasterous situations occur on your properties. 

From what I've seen, the days of the $1,000 and $2,500 deductibles for fire, lightening, water damage (not flood), etc. are becoming harder and harder to find. 

Save yourself the brain damage, clear it out, convert it back, discover a whole new class of tenant you can now get and enjoy the ride of eliminating 70% of the hassles this property delivers. 

Quote from @Michael Smythe: @Zachary YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Make sure you’re working with a team that has a good reputation and understands the market.3.

They see foreigners as one-off buyers so they're not too much concerned about building a relationship or their reputation in the eyes of somebody who doesn't live there for that matter.

I use a channel manager (OR) and it has damage protection built in.