@Nick AmYou also may want to consider other matters besides taxes, such as state law requirements for management companies and serving as a property manager, especially with a tiered structure.

The required POS inspections become one added layer to closing a deal, but as you’ve seen, some properties come with completed POS, while others require repair escrows that can add up to around 10-20k. 

It's a very expensive repair (ballpark $15,000) and the cost depends on how long the sewer line is.A lot of municipalities here require dye tests and occupancy inspections.

What’s required for success in this is deep knowledge of real estate in general and the area in particular; experience in real estate and the local laws, etc.; and capital to pay for options, marketing, legal counsel, accounting, tax advise, etc.  

As U.S. citizens residing in Europe, we are required by the local tax code to hold the property in our personal name.

Start talking to lenders now, but wait to get pre-approved until you have a job offer with a firm start date.

They are investing in infrastructure, housing, public safety and taking the steps they need to take to attract more jobs. 

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.