My partner and I have been offered a privately owned cash flowing opportunity in the Philippines which is right on the ocean in a very popular location, and at what seems to be a very good price. 

I painted the entire unit with fresh coats to cover up scuffs and to change some of the not so popular colors (a bright orange living room!).

I'd suggest working with a list broker to get some suggestions of lists to mail to.Two owner occupied segments have had success - without being over-popular yetSeniors with Long-Time Ownership -15-20+ year ownership, age 60-89, specify median home values and eliminate known low equityOwners with Low Financial Stability Scores (FSS) -Struggling financially, 5* year ownership, age 40-89, eliminate known low equity, and specify median home value.These targets probably haven’t done any updating in a long time – and maybe even put off home maintenance.

I know the popular opinion is to just "tear up the contract" but it is certainly not morally correct.

Quickbooks is pretty popular.

I am a newbie but as far as I understand if you want to protect your assets an LLC is one of the most popular( easiest/rei friendliest?)

@Stephen DeSanctis, using a HELOC to purchase an investment property is a pretty popular strategy.

They have even been known to source manufacturers to replicate popular products.

Here are some strategies that you may wish to employ in light of where we are in the market cycle:1.Focus on the right asset – multifamily real estate is popular during times of uncertainty because people have a preference for renting during times of uncertainty and because it is valued intrinsically, it is less prone to large swings in sentiment which can impact the value of single family homes. 2.Invest in real estate - it represents diversity in your overall portfolio so if you are taking cash out of equities to invest in real estate then you are potentially building yourself a portfolio that is positioned for excess returns with lower volatility.

I just don't see people living in them long-term, could work for a single but a couple in a 250' home with one work-at home spouse (which is increasingly popular) would be rough long-term, or if a single finds a partner who has a lot of shoes or bikes, doesn't want to climb into a loft bed, etc., For a vacation home or for a short time span, they are great.