@Jonathan GreeneI agree - I like to offer an alternative option which can be negative and I get plenty of private messages of me being mean, out for people etc.As an example, I am Sorry, but my opinion is if you get 100% financing I think it is ultra high risk especially for someone new to real estate.

I don't know if you're aware but luxury hotel rooms are often super cheap in that country so I'm not sure how you'd compete and make any decent income.

No matter how long a guest stays compared to policy there will be an explanation or excuse or expectation that you will look the other way.Hopefully people understand that with you living next door there will be more enforcement of the rules, but you need to figure out what you can tolerate becuase they are going to push you to the edge and trying to be ultra strict may backfire. 

Quote from @Chris Seveney: @Ian BruesehoffGive them like $25,000 for their guru course and they give you the super secret code And $50k for the ultra uber code!

I own a top 1% real estate team and we make good money mostly in the luxury segment, (which BTW is not an easy job, you are welcome to give it a try)  but the by far bigger share is still from our RE portfolio.

I told them when they moved in the hot tub and AC were luxury items that came with the house, but if they break I would not be repairing or replacing them.

This code allows property owners to avoid paying capital gains taxes when they sell investment property and reinvest the proceeds into another investment property through a qualified intermediary, within a specific timeframe.For context, we support about a dozen luxury STR investors annually acquire Oregon Coastal vacation rentals with the majority of those clients originating from out of the area or State.

I'm in the Reno Tahoe, NV area and there are buy and hold opportunities, some flips, and luxury STRs.  

I am living on the SE side which is ultra-competitive currently.

If you have a luxury home I think this model could work quite well, but otherwise it's very hit or miss and I don't think you'll get substantial income from it.