I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

(gross rents $4900; 8% PM; mortgage+insur+taxes = $3600/mo).

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.

Taxes 10k HOA is 9k The current owner never did short-term rentals.

Let's assume your expenses (mortgage, taxes, insurance, maintenance, vacancy, etc.) comes to a clean $600 and the property rents for $1,000.

The only inconvenience is I have to pay booking.com a commission at the end of the month, and I have to remit the local taxes myself vs.

One thing to take into consideration would be the overhead costs of being a cross-border investor, such as entity setup, property management, higher lending rates and tax filing should you choose to have a CPA.

I usually run several CMAs, with different criterial, and of course compare tax appraisal value with a wholesale price, add 5% as a fee to a transaction, in some cases.

Tax structuring and LLC advice you can get for a paid fee too.