It could be 50% high, 50% low or right on the money but no matter which of those three it is makes no difference.

Last August a decent pre-foreclosure opportunity came available on the MLS and my agent took us to see the home and submitted two offers below asking that were too low for the seller at the time.Apparently the seller was able to avoid foreclosure and the home delisted after it didn’t sale.

We bought the stair tops from Lowes and had them delivered to our house.

Coffered ceilings, low corner additions etc.Anyone can slap lipstick on a pig, looking for high value add in high demand markets is where the $ is.

No reserves, Income may be good, credit on the low side and NO Equity in the home.  

I think this is a calculation a lot of homeowners are making right now--especially if they have a low interest mortgage, equity, and their house will cashflow as a rental.The choice is a personal one of course, but I think your future self will thank you if you pull out some equity from your existing home with a HELOC for the downpayment on the next house and a cushion renting your current home, use a property manager as you have other things to do, and buy the next house and do the same thing again.

Quote from @Joseph Sakic: Choose your hard.Do your research to find a quality PM.

Above all, choose a market that aligns with your goals!

Inventory seems low, and I am trying to househack my first unit.

However, between the much lower mortgage interest rate in Europe and a better tax treatment in the US, I'd choose the former.