Besides, the € has been fairly stable against the $ over the last few years and that could continue if the FED and the ECB follow similar monetary policies, as the market likely believes.

Even if you get through that eventually, its very difficult to get stable, credible tenants to live in a place with no AC, next to homes with no roof.

Your options are A) look at pathways for getting you on the mortgage, B) live with the marginally higher rate and possibly refinance once you're income is more stable and/or if rates were to drop, or C) buy the rate down to whatever number you want. 

Tertiary markets with a stable population and diversified job market with around 100,000 to 500,000 people might be the place to look.

I'm focusing on buying where there is population and job growth, i.e. the Lehi (South Salt Lake County and North Utah County), and I'm staying away from less stable but cheaper markets/cities.  

unless you have some kind of advantage, or creative strategy, or both (boots on the ground, sourcing quality off market deals, MTR or STR, house hacking, etc.) there is really no market where you can get a few hundred plus in cash flow with current off the shelf rates.you should 10000000000000000000% not buy a random property in Memphis because an Excel sheet tells you you will make $212 a month on it.if you want to go to Memphis and spend a few weeks there, drive around, meet PMs and other investors, and really lean in - go for it. 

Where I live in NJ, my township does not so property taxes are stable when buying.

I don't mind scepticism as long as the feedback is constructive and supportive.Below are some things for you to be aware of...Paraguay's credit rating was just raised from BB to BB+ citing a stable economy and the region's highest growth expectations.

Prior to this, I had 2 years of good tax returns from 1 stable job as well as my side business. 

As far as the objective Medium and long income through rental income, appreciation, and to have a stable cash flow.