Your best route might be to buy a 2 to 4 unit property that you can live in and rent out the additional apartments.

Close to a cool little town, close to an area attraction, etc....Also do a search here and see how to screen guests, in addition to what the hosting sites do.... like no last minute bookings, no short stays....

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

I don't have the 10% for the down but thinking of using a HELOC to get the money and then add it into the calculator.

After a few additional email interactions that same day, your DoC stated "I do not have an answer for you.

Foreign nationals have the same rights to purchase real estate as German citizens, making it easy for Americans to invest in the German market without additional legal barriers.Furthermore, Germany has a transparent legal process for buying property, ensuring clarity and security throughout the transaction.

Once you’ve built some confidence and systems, you can start exploring additional markets.I personally focus on 2 markets that are about 20 mile radius.Make sure the market(s) you choose align with your investing goals, whether that’s cash flow, appreciation, or both.

We will have lots of renovations and additions to do over the years, so I'm worried that it will be hard to save up for more rental properties.Any suggestions?

These are professionals with additional training and a stricter code of ethics.

Most of what I’ve read you obtain the code violation list from a city official but it sounds more like you are purchasing the list from an external source?