Although, it's very capital intensive and you have to rely on a lot of factors you can't control, contractors, interest rates, market shifts, realtors, buyers, appraisers, inspectors, material costs, weather etc etc.

Depreciation lowers taxable income now but is subject to recapture at a maximum 25% rate when the property is sold.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

I lived in Madrid, Spain for about 8 months and I am curious if it is possible for non-residents to successfully have rental properties within the country.My concern is mostly from a tax standpoint and whether it makes sense.My research shows that Non-residents of Spain(but a resident of Europe) pay a flat rate of 19% on NET RENTAL INCOME.Non-residents of Spain(Not a resident of Europe, such as the USA) pay a flat rate of 24% on GROSS RENTAL INCOME.The difference of paying tax on Net and Gross is huge.Americans are not able to deduct expenses such as mortgage interest, taxes, insurance, cleaning, repairs, etcA pro that I can think about when it comes to invest in Spain is that overall costs are less - Mortgage rates are currently around 4% - 4.5% while it is around 6.5% - 7% in the US.Am I reading the tax law correctly?

Should I use a co-host just to get off the ground on a good foot and rack up some solid 5 star ratings, then transition to self sufficient down the road?   

But i heard that there's scammers who prey on new listing discounts to try to take advantage of new hosts.. is this something I should be concerned about?

Even though there is low inventory, interest rates are high, and many properties don't cash flow, look harder there are always deals, you just need to find/make them.

What is the interest rate on borrowing compared to the rate you are earning, then take into consideration the tax consequences. 

@Ed Lopez our thoughts:1) $65 is average hourly rate for handyman in Metro Detroit.

Experienced investors typically value properties like yours by analyzing cap rates, cash-on-cash returns, and income growth potential.