If you do this, make sure you have clear intentions and written terms each party agrees to.  

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

My #1 fear going into this was partying guests disturbing neighbors and damaging the property.

If you are a legal property manager in your state the owner should have the unfettered ability to allow you to act as his/her agent to enforce the lease, whatever provisions they may contain plus whatever your state laws allow.

But I’d’ also ask if the girlfriend is a legal US citizen?

Consider Hiring a Legal Expert- German property law can be complex.

But here's the thing: communication within the GP team can make or break a deal.When information doesn’t flow smoothly between team members, it can lead to confusion—and even worse, miscommunication with external parties.

Do not rely on it for legal advice.

Hey Deirdre,To address your questions:Providing freedom by handling day-to-day operations.Offering peace of mind through proactive maintenance and tenant communication.Reducing risks by staying ahead of legal requirements, tenant screening, and dispute resolution.Enhancing the bottom line by identifying cost-saving opportunities while ensuring tenant satisfaction to reduce turnover.Is the experience still important when the property thrives financially?

A lot of the US market - housing, stock, treasuries, etc - is basically a legal money-laundering location for honest or ill-gotten gains in the rest of the world, because the markets are open to foreigners and as close to a guaranteed safe haven as can be found.