In my humble opinion, your business plan will be much more important than the market.

I had a passion for real estate for quite sometime now but it was until i went into being a short-term rental agent and making sales of $12,222 from April to date that i saw that there is actually quite a huge demand for short term rental here in Tanzania and i can decide to not just be an agent but rather work myself up to becoming a real estate investor and get my own properties.That 12k, though in humble beginnings showed my that there's something here.

I'm humbled and proud to have made the short list.  

Stay consistent, stay humble, and don’t be afraid to make mistakes—that’s where the growth happens!

His message was quite simple: Until you've been humbled, you have not figured out this business.

In my humble opinion, I would start with a smaller project---60k sounds like a gut job and if it's an older house then expect it to be more once you start opening pandora's box. 

In my humble opinion, the management person is pro tenant.

LPs, myself, now humbled and less wealthy, included, need to do better.

Every market is different, skills are different, location matters, proper due diligence matters and your individual lifestyle even matters.There are millionaires who live very humble lives and you would never know they were wealthy. 

Very honest, humble and direct advice with a glass half full mindset.