However, these costs can often be added to your property's basis, which helps reduce capital gains tax when you sell the home.Once the property is officially a short-term rental, subsequent repairs and maintenance would likely qualify as deductible expenses. 

I control the price I buy at (equity gain at the buy), I can force appreciation on my own terms, I get the monthly cashflow, I get direct tax benefits, appreciation and loan paydown that directly affects my net worth since I own the asset.

I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.

If you can’t quantify risk and don’t understand the mechanics of “weighted” average of expected return and range of returns (standard deviation) then you are at a severe disadvantage and should consider a competent investment / financial manager for your investment capital.  

But it would give you time to save up for the 20% on a refinance in 2 years or give you the ability to use any equity gained to refinance in 2 years.

The only silver lining is this property performance so bad, that it helps offset the gains from my other 10 homes. 

It’s about more than short-term gains; it’s about creating a self-sustaining system that prevents the very liquidation events that drive rents up and communities out.4.

Investors gain access to a flexible secondary market where they can sell their rights if they want to exit.

China manipulates there currency and the situation to gain from such trade imbalance.

Someone who has nothing to gain if you buy the property or not.