Yes, paying retail and/or not adding value is the hard way to make a profit in real estate in many markets. 

@Eric LeBlancWe have done well investing in the Spring area - One thing that helped our bottom line was to reduce our expenses by investing in areas that have lower tax rates - we moved completely out of Harris County to Montgomery County and found further savings by buying in neighborhoods without a MUD tax - we effectively reduced our expenses by one percent or more (which is like having an extra month of rent).Good Luck and Happy Investing,

Also new wiring will be need in the house as well for codeLights and fixture where neededHeatingOption 1Replace with a completely new furnace, duct workand gas lines (most expensive)Option 2Have wall units installed. 2 downstairs and 1 upstairsOption 3Have electric heat installed in entire houseAir conditioningIf you do option 1 heating a can installIf you do option 2 heating can have ac unit in the wall unitIf you do option 3 heating need Window unitsAppliancesNo appliances is in this bidPlumbingAll new plumbing will be added to the houseFlooringCarpet throughout home as well as vinyl in kitchen and bathroomTrimTrim installed where neededPaintRepair drywall and paint entire houseNotes:The floor is a little un level this bid does not include leveling the floor.

I would not assume that people inquiring about a rental have actually read the ad.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

That's right, not only from 2018 onward.One important thing to note regarding foreign properties; although you can claim depreciation deductions, they are on what's called Alternative Depreciation System (ADS) for which properties are depreciated over 40 years as opposed to 39 or 27.5 years.

Nicole, I added together the estimated repairs on the property and left about $15k in reserves just in case I went over budget. 

Next time the application window will be in my ad.

So keep the extra premium in mind for your numbers if you plan to get conventional financing after as they will most likely require flood insurance and that can be pricey.

I heard that there are many reselling techniques that people do on ebay and that brings them extra income.