Hey Caitlin, I'm in Spokane (realtor) and completely sympathize with you on how crazy this market is, especially when trying to run numbers on a "luxury househack" and be able to find that duplex that everyone is looking for.

On another note, I think a lot of investors are going luxury pool cabins right now.

Actually, Rolly, I have a property manager now, Oceans Luxury Rentals.

If given the option I would opt to replace it with luxury vinyl tile. 

I'm not an experienced luxury flipper though. 

I know this because I property manage a luxury vacation rental in Tuscany and my family has or had RE in Mallorca/Spain.This doesn't mean Europe is off limits, it just means you need a very longterm REI strategy, and best to combine it with US and other RE investments if you want to make any returns here.A whole nother discussion could be about the incredible stability this continent has had for decades compared to the rest of the world including the US.Starting with you guys, I'd like to set up a European Bigger Pockets Master Mind group.

Most of new construction including luxury is now LVP, so you don't need to worry about value. 7k should easily pay for the work, plus install is a lot faster than HW and can even be done with a tenant in place.

Put it on a clipboard and walk through every house with it.http://www.kellerink.com/sites/kellerink.com/files...Step 3: Study the comps using a 1-star, 1-star minus, 1-star+, 2-star, 2-star minus, 2-star+, 3-star, 3-star minus, 3-star+, 4-star, 4-star minus, 4-star+, 5-star, 5-star minus, 5-star+1-star = teardown, 2-star = ugly home, 3-star = livable home, 4-star= nice home 5-star=luxury homeStudy the finishes in the comps in great detail and find the general trend of the comps.

Seemingly the biggest challenge at present to the market is horrendous or unattractive financing terms, particularly on commercial, multi family or luxury purchases.

But if your lodging is $1000/night and you're doing $50 per night for heat… that may not fly.