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Both.. heading into the twilight ..If I was starting out or mid career then for sure I would be doing what I did 20 years ago :)Hey Jay, will you be my mentor and give me 20 hours of guidance each week for free?  

If you ever have questions or need guidance, feel free to reach out.

This may be more of a question for a lawyer, but from a tax perspective, that's my input.It's also worth looking at the sec. 121 home sale gain exclusion to see if it might be something you qualify for in order to take advantage of the exclusion amount since you mentioned it was a previous primary residence.

If you have any specific questions relating the German real estate market feel free to ask.Unfortunately most useful information will only be available in German.

I'm not a tax specialist, but I believe there would be a way to rent out your entire place while your're away on contracts.

I turned to asking for line of credit’s but what I am finding is most places offering a LOC want our properties to be free and clear of debt in order to provide an LOC.

@Rami LatifVery unlikely, the lienholder will refinance before the foreclosure,what will happen is it will sell at auction and hopefully will sell for more than what the first is owed plus what you’re also owed.anything over the 600,000 will go to you unless there are other taxes or penalties associated with the property .Good luck

As the home sits right now it will cash flow about $100.00 to $150.00 a month if I self manage it due to tax hikes and the homestead tax credit not applying after it becomes a rental.

Don't forget transaction costs, seller concessions, vacancy loss if you sell vacant (which you should), capital gains taxes on the profit if there is any, etc.