I'm curious to know how the us tax rules treat properties overseas.

Thanks everyone, but the renovation part of this is 98% done, with still a little room for improvement... which is my downfall because I keep thinking of new ways to keep pouring money into this thing, and I gotta stop that.I've broken up my story because I have a thousand progress photos.So why don't I continue.....Ah, the photo is right side up.So that chair and the metal desk came with the house.

Rule 1. 

Cathy,Experts will tell you that the goal is to find properties you can improve and move up to match the higher quality area.  

Rule #1 Don't rent to friends or family.

Again, we don't want to be slum lords, we want our tenants to feel at home and happy.Very early on, we noticed she was testing the waters to see what she could get away with and also, I don't think she likes us holding her accountable to the rules and being around her age or younger.

Also, you should look for opportunities to buy below market and force some appreciation, so that you are not 100% dependent on cash flow to make all your returns, you will be insulated to some degree from short term market fluctuations, you create multiple profitable exit strategies for yourself, and your cash flow numbers should also improve to boot.

So as a landlord you need to know the rules of the game you are playing

I've made some improvements and it recently appraised at almost twice what I paid.

(I realize you build a buffer into this with the 50% rule, but it is still an issue I want to list.)b) Finding an affordable 4-plex in my market.