And yes, you are correct that in Holland the language barrier is rarely if ever an issue, which makes life a lot easier.

Unless you are a single person, or a couple, using a single room and renting out a number of rooms in your house, it is rare to cash flow. 

Maybe you can combine that with a live-in BRRRR where you create some value and get to that 20% much sooner. 

In my experience, tenants rarely hold up their end of the bargain when it comes to routine maintenance.

.$120,000 purchase price with a conservative $250,00 ARVRoughly $60,000 in renovation Conservative rent $1800 monthI’ve got roughly $200k in capital(HELOC/Savings combined)With the current situation in our world it’s nerve wracking obviously, thanks in advance for the advise.

Suggestions:1) get good rental property insurance that covers loss of rents for covered reasons: fires, etc; 2) be a good landlord and treat your tenants as customers you will reduce liabilities with an ounce of prevention; 3) Get umbrella insurance which also helps to covers your assets in a suit; 4) IF you get an LLC you must run it as a separate business or it will not provide you any protection (I'm not an attorney, but that's my understanding); meaning if you combine your business funds with your personal funds, they will be able to demonstrate it behaves as a straw company and really the courts should ignore it as a separate legal entity (my understanding of the risks).  5) LLCs can make lending/borrowing more difficult, until you want to borrow non-conforming loan funds (non-Freddie/Fannie) or you hit your 10-15 property limits with Freddie/Fannie, at which time you'll need to go to commercial lenders who will WANT the property/loan to be in an LLC.  6) As you grow your portfolio keep in mind conventional lenders will look at your DTI (debt to income) ratios. 

The 3x income requirement is usually combined, not per person, and it sounds like they have no problem meeting that requirement together.Also, I don’t personally put too much emphasis on applicant’s credit scores for a variety of reasons that I won’t bore you with.

AirBnb as well but with current limitations that’s in the air.Other than that, San Diego is a long play and immediate cash flowing investments are very rare and 99% of the time are a value add situation.

Hi @Joseph White I have always self-managed so I don't have any first-hand experience but I've heard good things about Rare Bird & Sleep Sound. 

So all those things combined with everything else I mentioned is my sweat equity in this transaction.The hitch to this all is that she will not accept a deal where someone refinances the property because she doesnt want a lump sum.