Despite of this, almost all German houses do not have central air conditioning.

To share what I'm projecting for Monthly Income/Expenses:Income:Unit 1: 1500 (leased til 9/19) originally projected 1300Unit 2: 1750 (leased til 9/19) originally projected 1550Unit 3: 2400 (currently owner occupied, 2400 is about the going rate for 3BD/2BA in my area in similar condition)Expenses:PITI: 3800Utilities: 250Property Management (future): 280Reserves (Vacancy, Repairs + Maintenance, Capex): 500 Next steps:Refi on 12/1/18 (need 6 month waiting period) Get an appraisal soon since it will be valid to my lender for 3 months.

My first 3 properties were purchased in my name and I thought I was smart by purchasing an umbrella policy to cover them all.After reading as listening to advice on BP I see that I should setup an LLC and have a team (CPA, lawyer, etc) advising me.I wonder if anyone can share the team of Advisors they use, who they are (CPA, Lawyers, etc) and how they found a good one.  

Needs 70k in repairs for it to be prestine condition. 270k ARV!.

Lastly, if I decide I must buy in Nashville, what would be the best strategy there with current market conditions?  

The lawyers have the lease and the tenant has agreed to it.

-you don’t have to pay interest on a large fixed sum of money until you find or are ready to pull the trigger on a deal-it allows you lock in some or all of the amount at a fixed rate so your protected against rising interest rates ( given the current market conditions I believe we will see a couple more increases from the Fed this year which will increase borrowing costs for any variable rate products)- See this attached article that does a good job of simplifying it https://www.investopedia.com/mortgage/heloc/fixed-rate-option/

Passive income from “long-distance” requires “good” property manager, “good” tenants, and “good” condition property (not much maintenance or repairs).

The problem is you don't know what you don't know until you have the property inspected to determine the current condition and life expectancy of all major components and appliances. 

It sounds like a title company will suffice in Minnesota without an agent or lawyer.